Ajay Hattangdi and Vinod Murali, the former executives of Innoven Capital are planning to launch Alteria Capital, boasted to be the country’s biggest venture debt fund with an aggregation of Rs 1000 crores.

About Alteria Capital

Alteria Capital is expected to hold a corpus Rs 800 crore ($125 million) with an additional option of raising Rs 200 crore ($30 million). It is currently under the registration process in SEBI.

Alteria will be currently registered as a category II alternative investment fund (AIF), holding a tenure of 7 years at first extendible upto 2 years.

The funding rounds

The venture debt fund in its first funding round is targeting to raise 25-50% of the total corpus (Rs 250-500 crore) to enable deployments. At 1000 crore, it will be the largest venture debt fund in the country.

About Hattangdi and Murali

Hattangdi and Murali, when in with Citibank, launched US-based Silicon Valley Bank’s (SVB) venture in 2008 and also played a key role in Innoven’s success.

At InnoVen they facilitated debt investments to some of the largest startups, like ShopClues, Byju’s, Swiggy, OYO Rooms, Practo, Snapdeal and Pepperfry, gaining an investment of $225 million.

Creating room for more investors 

Many domestic and offshore investors are interested in this venture debt fund and are looking forward in investing. Some Indian banks, US-based endowment funds, financial institutions, Indian Ultra HNI groups have shown much interest in playing the role of potential investors.