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Alteria Capital has announced the first close of its third venture debt fund at ₹1,000 crore.
With an AUM of ₹3,800 crore across three funds, Alteria currently manages the largest pool of capital for venture debt for Indian start-ups. The ability to recycle capital further increases the liquidity available to Indian founders.
The third venture debt fund (Alteria Capital Fund 3 Scheme A) will continue to back start-ups that have already raised VC funding and provide them with a range of specialty debt solutions. The fund will target Indian start-ups across early and growth stages with cheque sizes up to ₹150 crore. There will be a separate scheme within this fund to provide working capital solutions to start-ups.
Consistent, stable returns
Vinod Murali, Co-founder and Managing Partner, said, “This is our third fund in five years which signals the strong momentum in the venture debt industry as a growing asset class in India. Consistent, stable returns over the years with strong credit risk performance as well as upside potential from equity kickers has proven to be a healthy combination for investors. We are grateful to our LPs who continue to repose their trust in us, and excited to back more founders as they contribute to India’s growth.“
Punit Shah, Managing Partner, said, “For the venture debt asset class, India is a relatively younger market compared to its global peers which reflects a significant opportunity for raising and deploying capital. With the third fund, we hope to play a meaningful role in bridging this gap over the next few years. We are extremely thankful to all the founders who have chosen us to be a part of their capital journey and optimising their ownership by reducing dilution”.
Venture debt asset grew 20x in 10 yeras
“As a team, we have witnessed the venture debt asset class grow more than 20x in the last ten years across multiple cycles and we feel humbled to have played a meaningful role in its evolution. We are grateful to all our investors and founders who continue to trust us in channelising large pools of domestic capital towards fueling disruptive start-ups in our country,“ said Ankit Agarwal, Managing Partner.
Alteria Capital was started in 2017 by Vinod Murali and Ajay Hattangdi. The Alteria leadership team pioneered the venture debt asset class in India and has multi-cycle experience having funded 250+ start-ups over the last 15 years.
Alteria has 100+ portfolio companies including Rebel Foods, Spinny, Mensa Brands, Dealshare, Good Glamm Group, Infra.market, BharatPe, Dunzo, Cars24, Niyo, EarlySalary, and Zepto.
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