Singapore state fund Temasek Tuesday said it had joined hands with lender UOB to offer up to $500 million in venture debt loans over the next five years to internet start-ups in China, India and South-east Asia. The deal will also see UOB acquire 50 per cent stake in InnoVen Capital (InnoVen), a Temasek subsidiary.
Singapore's Innoven Capital (UOB) has announced that it will acquire 50% of wholly-owned Temasek subsidiary, United Overseas Bank, the largest provider of venture debt in India, with plans for the joint venture to establish subsidiaries in Singapore and China within months.