Venture debt for growth-stage technology fund research profile
InnoVen Capital India Fund II is a SEBI-registered Category II venture-debt vehicle managed by InnoVen Triple Blue Capital Advisors. Current public evidence specifically attributes debt financings to QpiAI and NEWME; broader InnoVen platform borrowers are intentionally excluded unless Fund II attribution is clear.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
InnoVen Capital India Fund II uses a venture debt for growth-stage technology, healthcare, consumer and digital businesses approach across Technology, healthcare, consumer, digital businesses.
Current evidence
QpiAI disclosed a ₹50 crore venture-debt financing from InnoVen Capital India Fund II in October 2026 through 5,000 Series B NCDs.
Strategy
Venture debt for growth-stage technology, healthcare, consumer and digital businesses
Sector focus
Technology, healthcare, consumer, digital businesses
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
QpiAI disclosed a ₹50 crore venture-debt financing from InnoVen Capital India Fund II in October 2026 through 5,000 Series B NCDs.
Investor questions
InnoVen Capital India Fund II is covered in Rupeia's private credit research universe. The current public record describes the strategy as Venture debt for growth-stage technology, healthcare, consumer and digital businesses, with a sector focus of Technology, healthcare, consumer, digital businesses. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to InnoVen Capital India Fund II in the reviewed public sources: QpiAI; NEWME. It does not represent a complete current portfolio unless the manager has published one.
Fund-specific current disclosures show a ₹50 crore QpiAI venture-debt financing in October 2026 and a ₹7 crore NEWME financing reported in 2025. Fund-level realised returns are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Not publicly disclosed. Public terms or access information: Venture debt / non-convertible debentures for growth-stage businesses; coupon, maturity, fees, carry and liquidity terms are not publicly disclosed for the vehicle.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Ashish Sharma; Tarana Lalwani. Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: The final close, corpus, fees, carry, tenor, reserve policy, complete borrower book and vehicle-level returns are not publicly disclosed. Only QpiAI and NEWME are included because public sources attribute those financings specifically to Fund II..
2026-10-05: QpiAI disclosed a ₹50 crore venture-debt financing from InnoVen Capital India Fund II in October 2026 through 5,000 Series B NCDs.
Next step
Share the allocation question, ticket size, liquidity constraints and existing exposure. Rupeia can determine whether this profile needs a deeper decision-support brief.