Alteria closes third fund at Rs 1,000 Cr

Venture debt firm Alteria Capital has announced the first close of its third fund at Rs 1,000 crore. With this, the company joins the ranks of Blacksoil, Stride Ventures and Anicut among others that managed to raise new funds in 2022.

According to Alteria, it is looking to close 120-150 deals with Fund III and will write average cheque sizes of Rs 20 to Rs 22 crore across sectors such as healthcare, consumer brands, electric mobility, agritech and reg-tech.

Fund III’s size is expected to be Rs 2,000 crore and will get closed over the next two-three quarters. The first close of Fund III comes exactly a year after it announced the final close of its second fund at Rs 1,820 crore.

The new fund will back early and growth-stage startups, which have raised funding to provide a range of specialty debt solutions and offer cheque sizes of up to Rs 150 crore. The firm added that it also has a separate scheme to offer working capital solutions.

The Venture debt provider has backed several brands such as Mensa Brands and Dunzo. Its portfolio companies include Rebel Foods, BharatPe, Lendingkart, ZestMoney, Portea, Toppr, Spinny, Stanza, Vogo, Melorra, Mfine, Generico, Loadshare, LBB, Beato, Maverix, Country Delight among others.

According to an Entrackr report, more than 90 VCs, PE, and debt funds had announced their new fund launch as of July. Since then Fundamentum, Stride Ventures, Merak Ventures, Cactus Ventures, Elev8 Venture Partners, StartupXseed, Blacksoil, Kettleborough VC and Fireside have also announced their new fund to date.