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InnoVen Capital completes maiden deals in Vietnam

Indian venture lending firm InnoVen Capital India gave loans to Tiki Corp. and shared workplace provider Up Co-working Space, marking its first deals in Vietnam, according to Deal Street Asia.

Financial details of the two transactions, also the first venture-debt transactions reported in Vietnam, were not disclosed.

E-commerce firm Tiki was in the process of raising about US$100 million from its existing investors and others, the publication said it had previously reported. It added that it was understood that Up has secured a private equity funding round and will announce the deal soon.

InnoVen Capital was recently granted a US$200 million equity investment from Temasek Holdings (Pte.) Ltd. and United Overseas Bank Ltd., the report said.

InnoVen Capital has a regional portfolio of over 40 companies across Vietnam, Indonesia, Malaysia, Singapore and Thailand, the report added.