Saturday, October 12

Venture debt firm Alteria Capital Backs Portea Medical

Health Vista India, which owns and operates home healthcare service provider Portea Medical has raised funds amounting to Rs 25 crore in a funding round. This round was led by venture debt firm Alteria Capital.

The development has come days after Bengaluru-based Portea stated that it had introduced specialised and critical care services, including critical care at home, respiratory services, sleep apnea care, palliative care, cancer support services, post-trauma care, specialised rehab services and end-of-life care.

“They (Alteria Capital) are quick to understand the needs of the business and are long-term partners. Venture debt is a great alternative source of capital for high-growth businesses like Portea,” Meena Ganesh, chief executive officer of Portea stated.

The company operates across primary care, chronic disease management, elder care and post-operative care. It offers services such as physiotherapy, doctor consultations, new mother-and-baby care, specialty pharmacy, nutritional wellness, diabetic care, surgery discovery and tele-consultation.

“Providing affordable, convenient healthcare services at home is a massive value proposition which is relevant for not just the Indian market but other emerging markets as well,” said Vinod Murali, managing partner at Alteria Capital.

A little over two months earlier, Alteria Capital made the second close of its maiden Alteria Capital India Fund I with commitments of more than Rs 625 crore. Anchor investments to Alteria’s fund included those from IndusInd Bank, SIDBI and a large domestic office family fund.

Alteria provides venture debt to startups with cheque sizes ranging from Rs 2 crore to Rs 100crore. The firm, co founded by Murali and Ajay Hattangdi, who previously helmed the venture debt play at Temasek-backed InnoVen Capital India, counts some of India’s top consumer and technology startups in its portfolio, includingFingerlix, Toppr Technologies, Raw Pressery, Vogo Bikes, Dunzo and Vinculum.