Portea raises Rs 25 crore in venture debt financing from Alteria Capital

NEW DELHI: Venture debt firm Alteria Capital has closed a Rs 25 crore funding round in Health Vista India, which owns and operates home healthcare service provider Portea Medical, the Mumbai-based specialty financing firm said on Thursday.

The announcement comes days after Bengaluru-based Portea said 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, said in a statement.

Portea 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 Alterias 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 100 crore. The firm, cofounded by Murali and Ajay Hattangdi, who previously helmed the venture debt play at Temasek-backed InnoVen Capital India, counts some of Indias top consumer and technology startups in its portfolio, including Fingerlix, Toppr Technologies, Raw Pressery, Vogo Bikes, Dunzo and Vinculum.

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