<article>Venture debt firm <a href="http://dealstreetasia.com/tag/alteria" target="_blank" rel="noopener">Alteria Capital Advisors LLP</a> has reached the second close of its maiden fund with commitments worth Rs 625 crore ($85 million).</article>

Venture debt firm <a href="http://dealstreetasia.com/tag/alteria" target="_blank" rel="noopener">Alteria Capital Advisors LLP</a> has reached the second close of its maiden fund with commitments worth Rs 625 crore ($85 million).
Founded by former executives of Temasek-backed Innoven Capital, Ajay Hattangadi and Vinod Murali, Alteria Capital began operations in October. The venture debt provider is targeting a total corpus of Rs800 crore with a green shoe option of another Rs 200 crore.
 Alteria has received anchor investments from IndusInd Bank, Small Industries Development Bank of India (SIDBI) and a large domestic family office foundation. In April, it had raised Rs 100 crore from SIDBI . 

The fund achieved the first close of its maiden vehicle with commitments of Rs 356 crore in February this year.
According to an official statement, the fund has high visibility of further commitments from financial institutions as well as family offices and is expected to achieve the final close over the next few months.
The fund is targeted at startups across early and growth stages with cheque sizes up to Rs 100 crore. Alteria’s current portfolio includes Fingerlix, Toppr Technologies Ltd, Raw Pressery and Universal Sportsbiz Pvt Ltd.
Alteria also announced an infusion of Rs 8 crore venture debt in scooter rental platform, Vogo. Alteria&#8217;s latest deal comes as a part of Vogo&#8217;s Series A funding round, estimated to be around $6-7 million. The round also saw participation from Indian ride hailing major Ola and venture capital firms Stellaris and Matrix Venture Partners.
Founded in 2016, Vogo lets customers rent scooters for short one-way trips at various locations in Bengaluru and Hyderabad.
&#8220;Short distance commutes in India are a big problem and the last few years have shown that Indian customers are willing to pay for appropriate value and tech driven convenience. Anand and the team at Vogo have shown excellent promise in providing Indian consumers an inexpensive, convenient solution for their first and last mile commute requirements,&#8221; said Vinod Murali, Co-Founder &amp; Managing Partner, Alteria Capital.
Venture debt is now proving to be more attractive for startups looking for interim funding without giving up equity. Temasek-backed InnoVen is one of the larger funds in the market. Other venture debt providers in the market include Trifecta Capital, which is also on the road to close its $74-million fund, and IntelleGrow.
Apart from Alteria, venture capital firm IvyCap also announced its plans to launch a $76.4-million venture debt fund last year, while in November last year, Unicorn India launched its $92-million venture debt fund.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/venture-debt-alteria-capital-first-close-93355/" target="_blank" rel="noopener">India: Venture debt firm Alteria Capital hits first close of maiden fund at $55m</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/alteria-raw-pressery-105041/" target="_blank" rel="noopener">Alteria Capital invests $4.8m in Raw Pressery, eyes final close of maiden fund in 4-6 months</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/scooter-rental-vogo-ola-hero-104676/" target="_blank" rel="noopener">Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp</a>

Alteria has received anchor investments from IndusInd Bank, Small Industries Development Bank of India (SIDBI) and a large domestic family office foundation.

Venture debt firm Alteria hits second close of maiden fund at $85m; backs Vogo

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