The anchor investor of InnoVen’s China Fund II is InnoVen Capital, which is a joint venture between Seviora, a wholly owned subsidiary of Temasek Holdings, and United Overseas Bank (SGX:U11
) (UOB). Other investors include local government agencies, and Chinese industrial investment institutions located in the Yangtze River Delta area and central and western regions.
Temasek-backed InnoVen Capital, a venture debt firm, launches its second China fund with a target fund size of US$250 million ($334.57 million).
The InnoVen China Fund II has completed its initial close of about US$130 million, and will be a USD-RMB dual currency fund. This follows its first China fund, launched in 2021 with a fund size of less than US$100 million, which achieved its first equity exit in 2023.
