Alteria Capital makes first close of Fund II at ₹1,325 crore

At present, Alteria Capital manages ₹2,300 crore of assets under management across its two funds. Photo: Pradeep Gaur/MintPremium
At present, Alteria Capital manages ₹2,300 crore of assets under management across its two funds. Photo: Pradeep Gaur/Mint
 2 min read . Updated: 09 Apr 2021, 10:27 AM IST Tarush Bhalla

Bengaluru: 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.

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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.

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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.

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