Latest News | IFC Joins Alteria Capital as Anchor Investor for SME Credit Scheme
Get latest articles and stories on Latest News at LatestLY. Venture debt manager Alteria Capital on Thursday said the International Finance Corporation (IFC) has made an investment in its Shorter Duration Scheme to mark its entry into the SME credit segment.
Mumbai, Mar 27 (PTI) Venture debt manager Alteria Capital on Thursday said the International Finance Corporation (IFC) has made an investment in its Shorter Duration Scheme to mark its entry into the SME credit segment.
The Shorter Duration Scheme (SDS) will focus on short-term liquidity needs to drive balance sheet efficiency, such as short-term capital needs of licensed fintech companies, consumer brands and EV OEMS, among others, it said in a statement without disclosing the amount of investment.
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The investment made by IFC will strengthen the firm's position as a one-stop shop for structured credit for new economy companies in India, Alteria Capital added.
"We are witnessing a significant demand for venture debt evidenced by the fact that we funded USD 200 million of debt to Indian start-ups in 2024, but there is also a meaningful gap in short-term financing options for start-ups especially in financial services and consumer offerings," Vinod Murali, Co-founder & Managing Partner, Alteria Capital, said.
Wendy Werner, Country Head for India and Maldives, IFC, said "By addressing short-term financing needs and signalling market confidence, the World Bank's arm IFC aims to support India's start-up and disruptive technology ecosystem and accelerate economic growth".
Established in 2017, Alteria Capital is India's largest venture debt fund focused on innovative startups backed by strong VC sponsors. The company has an asset under management of Rs 4,500 crore and provides innovative debt financing solutions to start-ups.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)