India’s Alteria Capital hits first close of Fund II at $177m

Photo: Reuters

Venture debt provider, Alteria Capital on Friday announced the first close of its second fund at ₹1,325 crore, as it looks to ramp up its deployment across early and growth stage startups in India.

The company had received approval from Securities and Exchange Board of India (SEBI) in December 2020 for its second venture debt fund with a target corpus of ₹1,000 crore and a greenshoe option of ₹750 crore.

At present, Alteria Capital manages ₹2,300 crore of assets under management across its two funds.

With the second fund, the venture debt provider will target startups across early and growth stages with cheque sizes up to ₹150 crore. There will also be an allocation for structured debt products aimed for late-stage companies, said the company.

“We are honored to have the confidence of our investors and be able to raise the fund in such a short period of time in spite of the ongoing challenges of the global pandemic. But we are very aware of our responsibility to deliver attractive returns to our investors, and will continue to partner with high quality equity sponsors, while supporting the development of innovative companies,” said Ajay Hattangdi, co-founder and managing partner, Alteria Capital.

During the last fund raise, Alteria Capital also announced the addition of Ankit Agarwal and Punit Shah as partners to the fund.

“The Indian startup ecosystem is emerging as a strong value creator and domestic investors have appreciated the consistent, strong returns from our first fund. We are excited to be able to support more founders who are contributing to India’s growth amidst all the current challenges and our focus continues to be umbrella sectors like consumer, technology and healthcare,” said Vinod Murali, co-founder and managing partner at Alteria Capital.

In the past, Alteria Capital has backed companies, including Rebel Foods, BharatPe, Lendingkart, Zestmoney, Dunzo, Portea, Toppr, Spinny, amongst others.

The company also claimed that with its ability to recycle capital from previous investments, Alteria will effectively have over ₹4,000 crore available for funding in startups across venture debt and structured solutions.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.