InnoVen Capital, a pan-Asian venture debt platform announced on Tuesday that Chin Chao, Chief Executive Officer (CEO) of InnoVen, Singapore and Southeast Asia, is to serve as interim CEO for India effective immediately, while the Board continues the search for a permanent CEO.
"We have a strong and dedicated team on the ground in India, and are making good progress in identifying a new CEO to lead the company. Together with the team, Chin Chao will ensure that all our clients and partners remain well supported, and that start-ups looking to grow their business will have access to the strategic support and funding they require," said Chairman of InnoVen, Shantanu Mitra.
"We have also built deep relationships with the wider early stage tech ecosystem over the years and are positive that the strong business momentum will continue," he added.
Chin Chao has more than 15 years of experience in the venture capital and debt space and will succeed Ajay Hattangdi in leading business in India, in addition to Singapore and Southeast Asia.
A pan-Asian venture debt platform jointly owned by UOB and Temasek, InnoVen has offices in Mumbai, Singapore and Beijing. InnoVen has supported and provided over USD 225 million in capital to more than 100 high growth and innovative tech start-ups across India.
Portfolio companies include Oyo Rooms, Swiggy, Byju's, Nestaway, Pepperfry, Prizm Payments, Shaadi.com, Shopclues, Myntra, Freecharge, Manthan Software, Firstcry, Practo and Capillary Technologies.
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