Mumbai-based venture debt firm, Alteria Capital, has reported the successful conclusion of 107 transactions involving 91 companies in 2023. The firm committed Rs 1,510 crore during this period, disbursing Rs 1,307 crore to various startups, with the remaining amount expected to be provided in 2024. Established in 2017 by Vinod Murali and Ajay Hattangdi, Alteria Capital manages assets totaling Rs 4,250 crore across three funds.
Vinod Murali, Co-founder and Managing Partner of Alteria Capital, commented on the challenges faced by Indian startups in 2023, describing it as a testing phase that required founders to showcase resilience and determination. Despite global liquidity contractions, India remained an attractive investment destination, benefiting from increasing domestic flows and the emergence of leaner and more appealing startups.
Since its inception in 2018, Alteria Capital has cumulatively funded Rs 5,000 crore to Indian startups. The firm’s diverse portfolio includes notable companies such as Rebel Foods, Spinny, Mensa Brands, Zepto, Captain Fresh, The Sleep Company, Exotel, Sunstone Eduversity, and CropIn, among others.
Alteria Capital emphasized the resilience of venture debt in India, highlighting its continued growth despite global reductions in venture capital involvement. Ankit Agarwal, Managing Partner at Alteria Capital, noted that venture debt has become an all-weather product, with founders increasingly utilizing this capital to extend runway during funding winters or to fuel growth. The market share for venture debt in India has reached lifetime highs, attributed to heightened awareness and a better understanding of its use cases by founders.
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