Mumbai’s venture debt firm, Alteria Capital, marked a significant stride in 2023, closing 107 transactions across 91 companies and committing a notable sum of Rs 1,510 crore, further reinforcing its robust support for India’s startup ecosystem. This commitment saw Rs 1,307 crore disbursed to startups, with plans to provide the remaining sum in the coming year.
Established in 2017 by Vinod Murali and Ajay Hattangdi, Alteria Capital manages assets worth Rs 4,250 crore spread across three funds. Reflecting on the challenges faced by Indian startups in 2023, Murali, Co-founder and Managing Partner, emphasized, “2023 was a testing phase for Indian startups, which required founders to demonstrate their resilience and discover their real steel. Global liquidity flows have contracted but India continues to be an attractive investment destination with increasing domestic flows coupled with leaner and more attractive startups.”
Alteria Capital Anticipates More Investment Flow in 2024
Since 2018, Alteria Capital has been a formidable force, contributing a cumulative funding of Rs 5,000 crore to various Indian startups. Its diverse portfolio includes prominent names such as Rebel Foods, Spinny, Mensa Brands, Zepto, Captain Fresh, The Sleep Company, Exotel, Sunstone Eduversity, and CropIn, among others.
Despite global contractions in VC involvement, Alteria Capital highlighted the thriving nature of venture debt within India. Ankit Agarwal, Managing Partner at Alteria Capital, commented, “Venture debt has now been established as an all-weather product, wherein founders have opted to use this capital for extending runway during funding winters or for fueling growth. The market share for this asset class is now at lifetime highs in India, thanks to enhanced awareness and better understanding of use cases by founders.”
Alteria Capital’s strategic investments and support amidst challenging times underscore its pivotal role in nurturing the growth and sustainability of India’s startup landscape. With a promising outlook for 2024, the firm anticipates further expansion and continued empowerment of emerging businesses in the country.
