Binny Bansal and the Azim Premji Foundation backed Alteria Capital is planning to raise Rs 1000 crore and a green-shoe option of Rs 750 crore after receiving approval from the Securities and Exchange Board of India
Rebel Foods, Lendingkart, Zestmoney, Dunzo, Portea, Toppr, Spinny, Stanza, Vogo, Melorra, Mfine, Generico, Loadshare, LBB, Maverix, Country Delight, Clover, Happay, Cropin, Cityflo, Onco, Nua, Damensch, Faces Cosmetics and Universal Sportsbiz are companies that are backed by Alteria Capital.
“There is a growing appreciation for the venture debt asset class among Indian LPs who have seen strong performance despite Covid-19. This is a dislocated asset class with low correlation to listed stocks or bonds and hence provides a good hedge as part of their asset allocation,” Vinod Murali, Co-founder and managing partner said.
The company has also on-boarded two Venture debt professionals Ankit Agarwal and Punit Shah from InnoVen Capital.
Ajay Hattangdi, Co-founder and managing partner said – “Adding two high caliber partners like Ankit and Punit will enable us to collaborate, identify and act more effectively against a rapidly growing market opportunity.”
Alteria Capital is a venture debt fund focused on startups backed by VC sponsors. Venture debt is an alternative form of financing for startups which helps augment equity capital. It claims to enable founders to reduce dilution and improve their ownership as it is predominantly in the form of debt with a small equity kicker
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.