Sachin Tendulkar Backed Universal Sportsbiz raises Rs 30 crore in venture debt

Former Indian cricketer Sachin Tendulkar-backed celebrity fashion company Universal Sportsbiz (USPL) has received Rs 30 crore from Alteria Capital, a venture debt firm. The company's portfolio includes WROGN, co-owned by Virat Kohli, Imara, a women’s ethnic brand with Jacqueline Fernandez and Ms.Taken a women’s western wear brand with Bollywood actress Kriti Sanon.

This is the second investment from Alteria Capital's Rs 1, 000 crore fund after its recent investment in ready-to-cook food brand Fingerlix.

Prior to the latest debt funding, USPL had raised over Rs 363 crore from venture capital fund Accel Partners and Dubai-based NB ventures, as reported earlier.

Anjana Reddy, Founder & CEO, USPL, "High growth companies need access to multivariate sources of capital and it is great for Indian startups to have more access to venture debt.”

Started in 2012, USPL brands are available across 200 points of sale spread across 34 cities in the country. The brands are typically sold at Shoppers Stop outlets in the traditional large format retailing channel while they are also sold on online platforms like Myntra, Jabong and Flipkart. The company has its own brand stores in about 10 cities.

Ajay Hattangdi, Co- Founder & Managing Partner, Alteria Capital said, “The consumer segment in India is looking very attractive and USPL is very well positioned to emerge as a winner in this space. We are delighted to partner with Anjana and the team at USPL.”