<article>Venture debt financier Jain Sons Finlease Ltd., which funds social enterprises through its brand <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=IntelleGrow" target="_blank">IntelleGrow</a>, has raised $20 million in equity and long term debt.</article>

Venture debt financier Jain Sons Finlease Ltd., which funds social enterprises through its brand <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=IntelleGrow" target="_blank">IntelleGrow</a>, has raised $20 million in equity and long term debt.
The new investors who participated in this fundraise are <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Omidyar+Network" target="_blank">Omidyar Network</a>, <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Triodos+Investment+Management" target="_blank">Triodos Investment Management</a>, Developing World Markets, <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Calvert+Foundation" target="_blank">Calvert Foundation</a> and Overseas Private Investment Corp.
The company did not specify which investors had put in equity.
IntelleGrow, a part of the Intellecap group, provides financing to early-stage startups in the form of debt products.
“The Indian early-stage ecosystem has been starved of quality debt providers who could offer cash-flow based lending. IntelleGrow pioneered this concept with an impact thesis and the current round would allow us to provide substantial funds to the start-up ecosystem in India,” said Vineet Rai, chairman of IntelleGrow, in a statement.
IntelleGrow has invested in about 100 enterprises and disbursed Rs 350 crore. Its portfolio includes technology start-ups such as SEDEMAC, ATM management company Electronic Payment System, and ophthalmologic companies such as EYE-Q.
Investing in startups through debt, popular in the US and Europe, has emerged in a bigger way in India in the last couple of years.
<a style="color: #000080;" href="http://www.dealstreetasia.com/stories/innoven-capital-raises-stakes-for-next-year-to-invest-more-and-do-bigger-deals-30214/" target="_blank">InnoVen Capital India</a>, backed by Singapore&#8217;s Temasek Holdings, is a major player. The company did 27 transactions in 2015 alone, nearly double of what it did the year before that. It has made 101 cumulative loans worth $150 million till date, and works with over 30 venture capital firms.
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=trifecta" target="_blank">Trifecta Capital Advisors LLP</a> is another such player, and hit first close of its maiden fund at $30 million. It is trying to raise $75 million for that fund.
International firms that are into venture debt financing are also investing in India. Such firms include Omidyar Network, with close to $900 million under management, and Netherlands-based Triodos Investment Management, which has invested in microfinance player Grameen Koota.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=trifecta" target="_blank">Venture-debt firm Trifecta invests in three startups from its maiden fund</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/ifc-to-invest-20m-in-grameen-koota-41302/" target="_blank">IFC to make $20m debt investment in MFI Grameen Koota</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/innoven-capital-raises-stakes-for-next-year-to-invest-more-and-do-bigger-deals-30214/" target="_blank">Temasek-backed InnoVen Capital raises stakes for next fiscal, to close first Singapore deal</a>

Singapore-based cloud-based software startup EngageRocket has raised $640,000 in seed funding led by SeedPlus, taking the total funds raised to $1 million.

India: Venture debt firm IntelleGrow raises $20m in equity and debt

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India: Venture debt firm IntelleGrow raises $20m in equity and debt

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