Alteria Capital has announced the final close of its second Venture Debt fund at Rs 1,800 crore. It now has an AUM of Rs 2,750 crore across two venture debt funds, raised from domestic investors.
Alteria Capital received approvals from SEBI in December 2020 for its second venture debt fund with a target corpus of Rs 1,000 crore. The firm said there has been strong interest from domestic investors to participate in this attractive asset class resulting in significant oversubscription in a very short period of time.
The fund had demand for 2X of the base target and has closed at Rs 1,800 crore, as per the statement. The investor mix includes Domestic institutions, Large family offices as well as senior corporate professionals and VCs/Founders from the startup ecosystem.
The fund, promoted by Ajay Hattangdi and Vinod Murali, will use the capital to back start-ups that have already raised VC funding and provide them with a range of speciality debt solutions.
The fund will target start-ups across early and growth stages with cheque sizes up to Rs 200 crore. There will also be an allocation for structured debt products aimed at later stage companies which have a differentiated risk profile.
“We are delighted to continue to have the confidence of our investors but also acutely aware of the responsibility that it brings,” said Ajay Hattangdi, Cofounder and Managing Partner.
“Our model which focuses on extending patient capital with product flexibility and optimal risk-adjusted returns has resonated well with investors and also gained us a wonderful set of entrepreneurs and portfolio companies,” he added.
Vinod Murali, Cofounder and Managing Partner said: “We are grateful to all our founders as well as investors who have reposed their faith in us. This fund has been raised completely on Zoom, from domestic investors, reflecting the massive growth in appetite in India for investment into alternative assets. There is a lot more credible data on performance and the stable, consistent performance coming out of the venture debt asset class is being appreciated by the Indian investor base.”
Alteria said it has concluded more than Rs. 1000 Cr worth of deals in the first 9 months of 2021. The second fund has already drawn down 35 percent of capital and funded more than 20 companies.
Alteria Capital has backed companies like Rebel Foods, BharatPe, Infra Market, Spinny, Cars 24, Mensa Brands, Dealshare, Chaayos, Jumbotail, Zestmoney, Dunzo, Lendingkart, Exotel, Portea, Toppr, Pratilipi, Stanza, Vogo, Melorra, Mfine, Generico, Alpha Vector, Moneyview, Loadshare, Oye Rickshaw, LBB, Beato, Maverix, Country Delight, Clover, Happay, Cropin, Cityflo, Onco, Nua, Damensch, Ayu Health, Bombay Shirt Company, Sunstone Eduversity, Faces Cosmetics and Universal Sportsbiz.
First Published: IST