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Deepti Sri · · 1 min readIndian venture debt firm raises $177m in first close of its growth-stage fund
“Venture debt provider Alteria Capital on Friday announced the first close of its second fund at 13.25 billion rupees (US$177.2 million) as it looks to ramp up its deployment across early and growth-stage startups in India,” reported Livemint.
Details:
- The company will target early- and growth-stage startups with a ticket size of up to 1.5 billion rupees (US$20 million) through its second fund. It will also allocate capital for structured debt products aimed at companies in the late stage.
- Alteria claims it will have over 40 billion rupees (US$534.6 million) at its disposal for funding in startups across venture debt and structured solutions.
Context:
- In December 2020, the venture debt provider received approval from the Securities and Exchange Board of India (SEBI) for its second fund with a target corpus of 10 billion rupees (US$133.6 milli0n) and a greenshoe option of 7.5 billion rupees (US$100.2 million).
- Alteria has previously backed startups including hyperlocal delivery firm Dunzo, healthtech startup MFine, and used car platform Spinny.
Currency converted from Indian rupees to US dollar: US$1 = 74.87 rupees.
Editing by Collin Furtado and Jaclyn Tiu
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