Temasek-backed venture debt vehicle launches China fund

SINGAPORE -- Temasek-backed venture debt vehicle InnoVen Capital on Friday announced the launch of a second fund targeting China's technology companies, seeking to provide capital to high-growth startups in the country despite regulatory uncertainty.

The InnoVen China Fund II is targeting a size of $250 million and has already raised $130 million, including InnoVen Capital itself as the anchor investor along with contributions from Chinese local government agencies.