bengaluru venture debt firm alteria capital has closed its maiden fund with a capital pool of rs 960 crore making it the largest venture debt fund in the country started by ajay hattangdi and vinod murali who were previously managing investments of temasekbacked innoven capital india the fund had an initial target to raise rs 800 crore which has been oversubscribed and the final corpus including the greenshoe option is rs 960 crore alteria has raised this capital from the likes of sidbi the notfor profit organisation azim premji foundation flipkart cofounder binny bansal and indusind bank sidbi which manages the governments startup india fundoffund has allocated its singlelargest cheque at close to rs 160 crore the firm competes with trifecta capital and innoven capital among others over the past 1215 months the mumbaibased investor has backed 28 startups across sectors like cloud kitchen player rebel foods lending platforms lendingkart zestmoney bikesharing player vogo and education technology platform toppr apart from its debt investments it has made three direct equity investments in concierge app dunzo juice maker raw pressery and universal sportsbiz which owns fashion brands like wrogn imara and ms takenwe are a little bit ahead of the phase we thought we will be in as we had a bunch of followon investments in portfolio companies who have gone on to raise larger rounds so the velocity of investments of followon for us has increased this has increased the cheque size as well as the overall pace of investments in the past three months april to june we have invested rs 230 crore said murali this according to him is the reflection of a better dealflow in the marketthe fund typically targets startups across early and growth stages with cheque sizes going up to rs 100 crore alterias average investment size is rs 1820 crore now since the funds first close in the first quarter of 2018 it has already committed rs 615 crore to startups of which rs 540 crore has been deployed across 28 transactions