Mumbai based venture debt fund, Alteria Capital, has announced the close of its second fund, Alteria Capital II. The fund has received SEBI approvals in 2020 for its second venture debt fund with a target corpus of 1000 crore and a greenshoe of 750 crore. Exceeding the target fund within four months of its launch, Alteria Capital II has been heavily oversubscribed, said the fund.

Across its two funds, Alteria Capital currently as an AUM of 2300 Crore, making it the largest pool of capital for venture debt for Indian startups currently. The fund intends to cut cheques upto INR 150 crore for early and growth stage startups. The fund will also allocate a part of the capital for structured debt products for later stage companies which have a differentiated risk profile.

In a statement, Vinod Murali, Managing Partner, Alteria Capital, said, "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. This fund will also allow us to provide larger cheques to later stage startups through structured solutions”.

Alteria Capital currently has startups such as BharatPe, Lendingkart, Zestmoney, Dunzo,Toppr, Spinny, Stanza, Vogo, Melorra, Mfine, Generico, Loadshare, Nua, Damensch, Bombay Shirt Company, Sunstone Eduversity in its potfolio.

Ajay Hattangdi, Co-founder and Managing Partner, Alteria Capital, said, “We are honoured to have the confidence of our investors and be able to raise the fund in such a short period of time, and that too, with the ongoing challenges of the global pandemic.” He further mentioned that the team is also well aware of its responsibility to deliver attractive returns to investors. The firm intends to achieve the same by continuing to partner with high quality equity sponsors in supporting the development of companies with innovative solutions that challenge the status quo, said Ajay.

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