Alteria Capital announces final close of its second venture debt fund at Rs 1,800 Cr
- ByAyushi Ray | October 1, 2021
Alteria Capital announces final close of its second venture debt fund at Rs 1,800 Cr. he fund stated there has been strong interest from domestic investors to participate in this asset class causing a significant oversubscription. “The fund had demand for 2X of the base target and has closed at Rs 1,800 crore. The investor mix includes domestic institutions, large family offices as well as senior corporate professionals and VCs/founders from the startup ecosystem,” the fund stated. Alteria will continue to target startups across early and growth stages, with cheque sizes up to Rs 200 crore. There will also be an allocation for structured debt products aimed at late-stage companies which have a differentiated risk profile. “We are delighted to continue to have the confidence of our investors but also acutely aware of the responsibility that it brings,” said Ajay Hattangdi, Co-founder and Managing Partner of Alteria Capital, adding, “Our model, which focuses on extending patient capital with product flexibility and optimal risk-adjusted returns, has resonated well with investors and also gained us a wonderful set of entrepreneurs and portfolio companies.”
The fund promoted by veterans Ajay and Vinod Murali will use the capital to back startups that have already raised VC funding and provide them with a range of speciality debt solutions. The team stated the success of the Alteria Activate Platform has also been an added boost for startups where corporates have found an efficient mechanism to engage with young companies, resulting in revenues and investments for startups. Alteria Capital Fund II will be the largest pool of alternative debt capital available for early- and growth-stage startups in India. With its ability to recycle capital, Alteria will effectively have over Rs 5,000 crore available for funding startups across venture debt and structured solutions.
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