The joint venture between United Overseas Bank Limited (UOB) and Temasek, InnoVen Capital announced Ashish Sharma as Chief Executive Officer (CEO) for operation in India.
Ashish Sharma will replace Mr. Chin Chao, CEO of InnoVen, Singapore, and Southeast Asia, who had stepped in as interim CEO for India on 1 August 2017.
Mr. Shantanu Mitra, Chairman of InnoVen, said:
The Board conducted a robust search for InnoVen India’s new CEO, and considered all qualified candidates for the position. We believe Ashish has all the qualities we are looking for and are therefore pleased that he has agreed to join us.
Further adding to that, he said:
His track record in building and leading teams to deliver high-performance growth, combined with strategic vision and deep, executional knowledge of India, puts him in good stead to expand InnoVen’s activities in India.
InnoVen is a pan-Asian venture debt platform jointly owned by UOB and Temasek, with offices in Mumbai, Singapore, and Beijing. As India’s oldest and largest venture debt platform, the company claims to have supported and provided more than US$240 million in capital to more than 100 high growth and innovative tech start-ups across India.
Prior to joining the company, Sharma was President & CEO of GE Capital, India. He has more than 19 years of experience within GE and GE Capital, having started his career as a management trainee under its Global Financial Management Program.
On the development, Mitra said:
India is an important market for InnoVen – there is a vibrant start-up ecosystem here and InnoVen is well-positioned to drive and to support that growth. We are confident that under Ashish’s leadership, InnoVen India will continue its strong upward trajectory as a market leader in venture debt financing.
Sharma subsequently took on progressive leadership roles across multiple businesses, global markets, and functions, including Business Head, Commercial/Corporate Finance in GE Capital, India.
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.