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47 deals in six months: Claims venture debt firm IntelleGrow

According to him, much before startups became a buzzword, IntelleGrow has been funding the early-stage businesses.

, ET Bureau|
Updated: Sep 30, 2016, 10.49 PM IST
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As per him, for such enterprises, equity is the best source of funds but external equity often dilutes control of entrepreneurs.
As per him, for such enterprises, equity is the best source of funds but external equity often dilutes control of entrepreneurs.
AHMEDABAD: IntelleGrow has closed 47 deals in the Venture Debt space in the first 6 months of the financial year 2016-17. This is estimated to be more than double of the other Venture Debt firms in India, claims IntelleGrow.

“Our team continues to spot deserving Ventures and support their growth funding with their ability to structure deals” said Nitin Agrawal, Deputy CEO of IntelleGrow. It mainly focusses on small-corporates in their early-stages of growth. According to him, much before startups became a buzzword, IntelleGrow has been funding the early-stage businesses. “We focus on ventures which would not get debt from traditional sources” he adds.

As per him, for such enterprises, equity is the best source of funds but external equity often dilutes control of entrepreneurs. This is where IntelleGrow has played a critical role with about 305 deals across 128 ventures that it has funded in its four year journey. IntelleGrow claims that this is the largest portfolio of venture debt in terms of deals made and also in terms of portfolio companies.

“While most of the Venture Debt providers focus on IoT - Internet of Things, we have focused at Impact Enterprise space where businesses are likely to contribute to livelihoods and improve general well-being of people. These may not necessarily be absolutely new startups” he said adding that besides education, IntelleGrow supported enterprises in sectors like clean energy, waste-recycling, healthcare and others.

It has funded enterprise like Bangalore-based Lithium, that runs a fleet of electric cards in the city saving on fossil fuel, Ideaforge, developer & supplier of tech enabled surveillance systems, Nephroplus a chain of dialysis centers in South India and others.

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