The fund will focus mainly on start-ups in their early and growth stages with funding size up to INR 150 Crore. Structured debt products will be allocated specifically to later-stage companies which have a differentiated risk profile.
Alteria Capital, a venture debt fund, has announced the close Alteria II as its second fund. The fund has been oversubscribed heavily and has far exceeded the target of INR 1000 crore within just four months of its launch. The fund now has an Assets Under Management (AUM) of INR 2300 Cr across debt funds and is the largest venture debt provider in India currently. With a target corpus of Rs. 1000 crore, the fund received SEBI approvals last year for its second venture debt fund, in addition to a greenshoe of INR 750 crores.
The fund will focus mainly on start-ups in their early and growth stages with funding size up to INR 150 Crore. Structured debt products will be allocated specifically to later-stage companies which have a differentiated risk profile. There has been strong interest from domestic investors to participate in this attractive asset class resulting in oversubscription in a noticeably short period of time. Alteria presently manages INR 2300 crore worth of funds, which makes it one of the largest pools of venture debt for start-ups in India.
Alteria Capital Fund II is one of the largest pools of alternative debt capital available for early and growth-stage start-ups in India. Alteria will effectively have over Rs. 4000 Cr available for funding startups across the domain, given its ability to recycle capital,. Alteria Capital has backed companies like Dunzo, Zestmoney, BharatPe, Rebel Foods, Bombay Shirt Company Toppr, Lendingkart, Spinny, Portea, Stanza, Loadshare, LBB, Vogo, Melorra, Mfine, Maverix, Country Delight, Beato Happay, Clover, Generico, Cropin, Cityflo, Onco, Nua, Damensch, Universal Sportsbiz, Sunstone Eduversity, and Faces Cosmetics.
Source: Business World
