SVB provides loan to VC-backed Zoomin

Set up in May 2007, Zoomin allows users to store, share and print their digital photos onto products like mugs, calendars and T-shirts. Sherpalo Ventures and First Round committed $12 million to the company through two rounds of funding.

Last year, SVB disbursed $20 million through venture debt, up from $12 million in 2011. The financial manager typically provides loans of $1-5 million for a term of six months to three years. Since 2008, the firm has completed over 40 transactions.

"The momentum has picked up this year. There is greater awareness now among entrepreneurs about the value of such debt, which helps them get funds without equity dilution," Ajay Hattangdi, SVB India Finance's managing director, told The Economic Times. "We look at innovative startups in any sector. We have provided loans to startups in sectors ranging from semi-conductors to food."

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• Topics
• South Asia
• Technology
• Venture
• India