Alteria Capital of India is looking to raise up to $438 million for its third fund

• ByStartupStory     |    August 24, 2022

Alteria Capital Advisors of India is in discussions with investors to raise up to 35 billion rupees ($438 million) for its third debt fund. In 2017, former executives of Temasek-backed InnoVen Capital founded the Mumbai-based startup.

The conversations, which take place less than a year after Alteria raised 18.2 billion rupees for its second fund, highlight the enormous interest in venture debt as Indian entrepreneurs continue to attract billions of dollars despite the country’s economic difficulties. 

Alteria plans to raise up to 20 billion rupees for its primary venture debt fund, which will be a part of a dual-fund structure, including overallotment. The second fund, termed “Scheme 2,” will have an over allotment corpus of up to 15 billion rupees. Startups will receive working financing from the secondary fund pool.

According to a source intimately involved in the discussions, investments in the most recent fund are currently being evaluated by the wealth management divisions of Kotak Mahindra Bank, which supported Alteria’s second fund, and IIFL Wealth Management. 

One of the top three venture debt companies in India, Alteria, boasts of managing 28 billion rupees in assets and a portfolio that includes at least eight entrepreneurs with a $1 billion or higher valuation. 

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