Alteria Capital, a venture debt firm, has secured the International Finance Corporation (IFC) as an anchor investor in its Shorter Duration Scheme (SDS). This is IFC's first investment in the global SME credit segment.
While the exact size of SDS has not been disclosed, Alteria's total Fund III target is $250-$300 million, with $186 million already secured for its Venture Debt Scheme.
SDS is a component of Alteria's Fund III and was introduced in March 2023. It focuses on giving startups in sectors like fintech, consumer goods, and electric vehicles (EVs) short-term capital (less than 18 months).
The fund has already invested in startups like Ivy Homes, Swara Fincare, Moneyview, and TEN x YOU, but its final closure is still pending. Over the next two and a half years, Alteria intends to use SDS to fund fifty startups.
According to Vinod Murali, Alteria's managing partner, the business is negotiating with both domestic and foreign investors to raise more money.
In order to close funding gaps and strengthen India's startup ecosystem, Wendy Werner of the IFC underlined the significance of creative financial solutions.
Alteria has invested more than $800 million in Indian startups, including Spinny, Ola Electric, One Card, Ather, and Jupiter.
