Temasek-backed venture debt vehicle launches China fund

InnoVen Capital raises $130m from Chinese local government agencies

InnoVen Capital is a joint venture between Seviora, a wholly owned subsidiary of Singapore state investor Temasek, and one of the city-state’s largest lenders, United Overseas Bank. (Source photos by Getty Images)

DYLAN LOH, Nikkei staff writer

January 26, 2024 09:00 JST

SINGAPORE -- Temasek-backed venture debt vehicle InnoVen Capital on Friday announced the launch of a second fund targeting China's technology companies, seeking to provide capital to high-growth startups in the country despite regulatory uncertainty.

The InnoVen China Fund II is targeting a size of $250 million and has already raised $130 million, including InnoVen Capital itself as the anchor investor along with contributions from Chinese local government agencies.