Venture debt provider InnoVen Capital has named Ashish Sharma as the new CEO of its Indian operations, a little over three months after two of its original co-heads quit.
Sharma, who was formerly the president of GE Capital India, will take over with immediate effect, and will replace Chin Chao, CEO of InnoVen, Singapore and Southeast Asia, who had stepped in as interim head for India in August.
“We believe Ashish has all the qualities we are looking for and are therefore pleased that he has agreed to join us
. His track record in building and leading teams to deliver high-perfor mance growth, combined with strategic vi sion and deep, executional knowledge of India, puts him in good stead to expand InnoVen's activities in India,“ said Shantanu Mitra, chairman of InnoVen.
InnoVen Capital Provides Young Teams & Start-ups with Mentoring & Investing Opportunities
InnoVen Capital will continue to target growth in its key markets of India, China and South East Asia especially as these venture ecosystems continue to mature and grow.
InnoVen Capital Closes Q2 with 8 Deals, Invests $12M
InnoVen Capital started out as SVB India Finance in 2008. The objective was to build a venture debt business which would offer venture capital firms and their portfolio companies the ability to access alternative forms of capital.
They were excited to see the growing vibrant entrepreneurial environment in India starting from about 2005-06. The growing number of entrepreneurs with high quality ideas and the entry of several new venture capital firms had led to significant growth in venture capital investments and highs in new business creation in India.
While early-stage businesses were relatively well-served by sources of equity finance, the market was characterized by a virtual lack of debt funding alternatives. The gap between the demand for growth capital alternatives from the growing number of VC-backed early-stage companies,and the inability of existing commercial banks in India to cater to their needs created a need for a lender that understood emerging and high growth companies. This insight provided us with an opportunity to invest in establishing a specialized lending business at that time.
Venture debt provider InnoVen Capital has named Ashish Sharma as the new CEO of its Indian operations, a little over three months after two of its original co-heads quit.
Sharma, who was formerly the president of GE Capital India, will take over with immediate effect, and will replace Chin Chao, CEO of InnoVen, Singapore and Southeast Asia, who had stepped in as interim head for India in August.
“We believe Ashish has all the qualities we are looking for and are therefore pleased that he has agreed to join us
. His track record in building and leading teams to deliver high-perfor mance growth, combined with strategic vi sion and deep, executional knowledge of India, puts him in good stead to expand InnoVen's activities in India,“ said Shantanu Mitra, chairman of InnoVen.
InnoVen Capital Provides Young Teams & Start-ups with Mentoring & Investing Opportunities
InnoVen Capital will continue to target growth in its key markets of India, China and South East Asia especially as these venture ecosystems continue to mature and grow.
InnoVen Capital Closes Q2 with 8 Deals, Invests $12M
InnoVen Capital started out as SVB India Finance in 2008. The objective was to build a venture debt business which would offer venture capital firms and their portfolio companies the ability to access alternative forms of capital.
They were excited to see the growing vibrant entrepreneurial environment in India starting from about 2005-06. The growing number of entrepreneurs with high quality ideas and the entry of several new venture capital firms had led to significant growth in venture capital investments and highs in new business creation in India.
While early-stage businesses were relatively well-served by sources of equity finance, the market was characterized by a virtual lack of debt funding alternatives. The gap between the demand for growth capital alternatives from the growing number of VC-backed early-stage companies,and the inability of existing commercial banks in India to cater to their needs created a need for a lender that understood emerging and high growth companies. This insight provided us with an opportunity to invest in establishing a specialized lending business at that time.
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