Ashwin Damera, Founder and CEO at Eruditus and Emeritus, has invested $32 Million in venture debt firm InnoVen Capital. The investment was made through Ashwin’s family office which is co-managed by Ashwin and his wife Bhagyashree Damera.
Started in 2008 InnoVen Capital provides debt capital to high-growth venture capital-backed startups. The platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans and working capital.
InnoVen Capital has partnered with over 200 startups including Byjus, Swiggy, Eruditus, DailyHunt, Elasticrun, Oyo Rooms, PharmEasy, boAt, Moglix, Curefit, DealShare, Cars24, Udaan, among several others.
It’s worth noting that Eruditus had recently secured $350 million in one of the largest debt rounds raised by an Indian edtech startup. The SoftBank-backed edtech unicorn received the funds from Canada Pension Plan Investment Board (CPPIB) through its subsidiary CPPIB Credit Investments Inc.