Alteria Capital said that it had closed its second venture debt fund at Rs 1,800 crore. Alteria also got a small part of shares in the firms it lends to, including Dealshare, Rebel Foods and Spinny. Alteria raised the fund from private investors and via video calls. “It is hard to tell when this craze will get tempered. Founders understand that it’s a good time to raise capital and looking for that, which is understandable,” Vinod Murali, co-founder and managing partner, Alteria, said. “But this also means decision making can be tougher, and we have to be careful. However, the founders are ensuring to be well capitalised by next year, even if momentum changes,” he added.

Alteria wants to invest over $200 million this year, with individual investments as high as $20-25 million. It also intends to double on portfolio firms and lends more to them. While it did not reveal the names of investors in the fund, some of its earlier investors are IndusInd Bank, Small Industries Development Bank of India (Sidbi), Azim Premji Foundation and Flipkart co-founder Binny Bansal.

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“Apart from existing LPs, we were happy to see active participation from investors who have not invested in the startup ecosystem before, especially founders who have experience and understand the value of debt capital to high growth startups,” said Ankit Agarwal, Partner, Alteria Capital.