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As venture debt becomes more popular in India, Alteria Capital invests $90 million in the first half of the year.
Reuters photo
Dhanjal, Swaraj Singh
16th of July, 2021
As venture debt becomes increasingly mainstream in India’s fast-growing startup ecosystem, which is turning out unicorns at a record pace, Alteria Capital, India’s largest venture debt fund, has deployed a record $90 million in venture debt deals in the first six months of calendar year 2021.
“Alteria invested over 20 firms in H1CY21, with a total investment of $90 million. This is by far the largest deployment in such a short time frame, indicating the ecosystem’s maturation. The entire market used to be around this size a few years ago,” said Vinod Murali, managing partner of Alteria Capital.
Alteria, which was formed by Murali and Ajay Hattangadi, is raising its second debt fund, with a first closure of Rs. 1,325 crore.
In 2019, the firm raised 960 crore for its first fund.
Alteria has recently completed deals with Infra.Market, Dealshare, and Mensa Brands.
Consumer, financial services, and B2B platforms have all been popular recently. The Thrasio model, however, is a developing area that has recently received attention, according to Murali. “We’ve teamed with Mensa and made a $10 million upfront commitment. This approach relies on targeted customer brand recognition and execution, but it also requires the leverage construct to be in place for the business model to be appealing. While huge equity checks are generating interest, “the debt is a critical element for this model to succeed,” he explained.
“We’ve also encountered unique scenarios like acquisition financing, such as when we assisted Exotel with their recent acquisition of Ameyo,” Murali said.
Alteria is also experimenting with novel deal structures in its second fund, in response to the changing needs of a growing startup ecosystem and rising investor interest in venture financing.
The original version of this article appeared on livemint.com.
Alteria Capital is a venture capital firm that specializes in debt financing.
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