Venture debt capital firm Alteria Capital will see a change in its leadership structure with co-founder Ajay Hattangadi moving into an advisory role.
In a LinkedIn post, Ajay Hattangadi said, “After having scratched my deepest professional itch, it feels bitter-sweet to announce that I will be hanging up my lending boots at Alteria Capital and moving into an advisory role at the firm.”
Ajay, the managing partner at the fund, co-founded Alteria Capital in 2017 along with Vinod Murali.
With an MBA degree from the State University of New York in Buffalo and a Masters degree in Banking and Finance from Mumbai University, Ajay is associated with the venture debt industry since 2005. He also launched InnoVen Capital in 2007.
Ajay Hattangdi (extreme left), co-founder of Alteria Capital with other team members
To date, Alteria Capital has made two fundraises, with the first one in 2018 with a size of Rs 960 crore, and the second fund with Rs 1,820 crore in 2021.
In October 2022, it announced the first close of its third fund—Alteria Capital Fund 3 Scheme A—at Rs 1,000 crore, whose final size is likely to cross Rs 3,500 crore.
The third fund will provide startups with a range of speciality debt solutions and will target Indian startups across early and growth stages with cheque sizes up to Rs 150 crore. It will also add a separate scheme within the fund to provide working capital solutions to startups.
Alteria Capital has around Rs 3,800 crore in assets under management (AUM) with over 100 portfolio companies, including Rebel Foods, Spinny, Mensa Brands, Dealshare, Good Glamm Group, Infra.market, BharatPe, Dunzo, Cars24, Niyo, EarlySalary, Zepto, Chaayos, Wow Sciences, Medibuddy, Sunstone Eduversity, CropIn, etc.
