The venture debt component of Alteria Capital’s third fund, which is based in India, has been finalized at a total of 15.5 billion rupees (US$185 million), above its initial target of 10 billion rupees (US$120 million). It now has $521 million in assets under management overall.
This most recent fund has a “shorter duration” strategy in addition to venture debt, which Alteria Capital claims is a first for India. The program is designed to meet the short-term funding needs of entrepreneurs.
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The fund’s overall goal is to raise between $250 and $300 million for both plans; the shorter length plan is anticipated to conclude by the end of 2024.
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“The strategy to split our fund into two schemes with different propositions arises from the fact that startups need innovative solutions across different use cases, tenors, and price points,” co-founder and managing partner Vinod Murali stated.
Fifty percent of the fund’s total capital commitments have already been invested in companies such as Rebel Foods, Renee Cosmetics, and OneCard. Up to US$24 million will be invested by Alteria Capital in firms that have already secured venture capital funding.
About Alteria Capital
Alteria Capital is largest venture debt fund in India devoted to support creative entrepreneurs with influential venture capital sponsors. The goal of Alteria Capital is to support forward-thinking business owners in their efforts to fully develop and expand their enterprises.
