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InnoVen targets Chinese tech start-ups, raises $130m for expansion.

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TLDR: Singapore venture financier InnoVen Capital Group has raised $130 million for its second China fund, which aims to provide funding to early-stage companies in industries such as deep tech, enterprise services, consumer, and healthcare. The fund, which has a total target size of $250 million, will be a dollar-yuan dual currency fund. InnoVen Capital Group, a leading venture debt provider in Southeast Asia, structures its deals using a combination of debt and equity financing and typically invests less than $20 million per company. The company has previously invested over $1.3 billion across 350 early and growth-stage companies, 50 of which have become unicorns.

InnoVen Capital Group has completed a $130m first close for its second China fund, as it aims to provide funding to early-stage companies in industries such as deep tech, enterprise services, consumer, and healthcare. The fund will be a dollar-yuan dual currency fund with a total target size of $250m. InnoVen Capital Group provides venture debt and equity financing to companies and has previously invested more than $1.3bn across 350 early and growth-stage companies, 50 of which became unicorns.

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