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Alteria Capital, a leading venture debt fund, has provided ₹10 crore in venture debt to Generico, a pharmacy chain that sells generic drugs. Generico recently raised $14 million (about ₹100 crore) in a Series A round led by Lightbox. Alteria’s venture debt is part of this round.
Generico has about 50 outlets in Mumbai and plans to triple this by 2021.
A release quoted Vinod Murali, Managing Partner, Alteria Capital, as saying that Generico is building a strong network of omni-channel healthcare delivery with pharmacies as the starting point. Alteria has a corpus of ₹962 crore, raised from a mix of domestic institutional investors, family offices and founders.
Alteria provides venture debt to high-growth Indian start-ups with cheque sizes ranging from ₹2 crore to ₹100 crore. It has provided debt to more than 20 companies, including Rebel Foods, Zestmoney, Portea, Toppr, Spinny, Stanza Living, Raw Pressery and Mfine.
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