Alteria Capital said on 1 October that Alteria Capital Venture Debt Fund IV has received an in-principle commitment of Rs 210 crore under the NPS Bharat Fund of Funds programme. The programme is anchored by the National Pension System Trust (NPS Trust), with participation from individual pension fund managers. The commitment is in-principle rather than final.
Trifecta Capital said the same day that Trifecta Venture Debt Fund IV has received in-principle approval for an allocation under the programme. It did not give an amount, and no other managers have disclosed commitments.
Alteria said the commitments were announced at NPS Diwas 2026 in New Delhi. It described them as "the inaugural set of commitments from Indian Pension Funds" for the alternatives ecosystem and an important milestone for Indian venture debt.
NPS Trust launched the fund of funds platform on 13 July 2026 to enable calibrated participation of pension savings in alternative investment funds. In August, S Ramann, chairman of the Pension Fund Regulatory and Development Authority (PFRDA), said the first round of investments would come within about 60 days.
Alteria says it has backed more than 270 Indian startups with Rs 9,250 crore since 2017. Trifecta says it has partnered with more than 220 companies.