InnoVen Capital, a joint venture between United Overseas Bank (UOB) and Temasek, today said it has appointed Ashish Sharma as Chief Executive Officer (CEO) for India, effective immediately.
Sharma will replace Chin Chao, CEO of InnoVen, Singapore and South-East Asia, who had stepped in as interim CEO for India on August 1, 2017.
Prior to joining InnoVen, Sharma was President and CEO of GE Capital, India.
“India is an important market for InnoVen — there is a vibrant start-up ecosystem here and InnoVen is well-positioned to drive and support that growth,” said Shantanu Mitra, Chairman of InnoVen.
Mitra further said “we are confident that under Ashish’s leadership, InnoVen India will continue its strong upward trajectory as a market leader in venture debt financing”.
InnoVen is a pan-Asia venture debt platform jointly owned by UOB and Temasek, with offices in Mumbai, Singapore and Beijing.
As a venture debt platform, InnoVen has provided more than USD 240 million in capital to more than 100 high-growth and innovative technology start-ups across India.
Its portfolio companies include Yatra, Oyo Rooms, Swiggy, Byju’s, Nestaway, Pepperfry, Prizm Payments, Shaadi.com, Shopclues, Myntra, Freecharge, Manthan Software, Firstcry, Practo and Capillary Technologies.