BENGALURU: Funding winters and the investor sentiment in 2016 saw multiple growth-stage companies turning to venture debt to tide over the hard times. The absence of a traditional credit line from institutional investors like banks has seen these smaller companies diluting precious equity for working capital and other needs.
In order to streamline the process of seeking traditional debt, Temasek-backed venture debt firm InnoVen Capital has formed a syndicate of banks and non-banking financial companies (NBFCs) including IndusInd, RBL Bank, Standard Chartered, Tata Capital and SIDBI to extend credit to its clients.
Since September 2016, Rs 32 crore have been disbursed through the ‘Credit Assistance Program’ to five companies includi…
Read the full article at: http://economictimes.indiatimes.com/small-biz/money/venture-debt-firm-innoven-capital-forms-syndicate-to-help-fund-cash-starved-startups/articleshow/56324954.cms