Alteria Capital

Alteria Capital is a prominent venture debt firm based in Mumbai, India, established by industry veterans Vinod Murali and Ajay Hattangdi. Since its inception, the firm has carved out a significant niche in the Indian startup ecosystem by providing non-dilutive capital to high-growth, venture-backed companies. Unlike traditional equity investors, Alteria Capital offers debt solutions that complement equity funding rounds, enabling startups to extend their runway, fund working capital needs, or finance specific growth initiatives without further diluting ownership. This approach has made them a crucial partner for many scaling businesses across various sectors.

The firm manages multiple funds, demonstrating its growing influence and capital deployment capacity. Its first fund, Alteria Capital Fund I, successfully achieved a final close of ₹1,120 crore (approximately $150 million USD at the time) in 2020, surpassing its initial target. Building on this success, Alteria launched its second fund, Alteria Capital Fund II, which closed at ₹1,825 crore (approximately $220 million USD) in late 2023, including a green shoe option. This substantial capital base allows Alteria to support a diverse portfolio of companies, typically those that have already secured Series A or later-stage equity funding and demonstrate strong revenue traction and clear paths to profitability.

Alteria Capital's investment strategy focuses on providing flexible debt solutions, including term loans, venture debt, and working capital facilities. They typically invest in companies across sectors such as consumer, B2B, fintech, and logistics. The firm's typical first cheque sizes range from approximately $600,000 to $24 million USD, catering to a broad spectrum of growth-stage requirements. To date, Alteria Capital has invested in over 100 companies, including well-known names like Rebel Foods, Spinny, BharatPe, and Mensa Brands, playing a vital role in their expansion and operational scaling. Their commitment to providing tailored financial solutions has solidified their position as a leading venture debt provider in India.