InnoVen Capital announces first close of new fund at Rs 740 crore

InnoVen Capital India Fund, a category II, Securities and Exchange Board of India (SEBI) registered alternative investment fund announced the first close of its new fund at about Rs 740 crore ($100 million). The fund has a target corpus of Rs 1,000 crore, with a green shoe option to raise an additional Rs 1,000 crore.

The first close was done with anchor investor Innoven Capital Pte Ltd, a joint venture between Seviora (a wholly-owned subsidiary of Temasek) and United Overseas Bank.  

While the fund is stage and sector agnostic, the primary focus will be on sectors such as consumer Internet, business to