Crossword Genius

Aide saving regular tranches of venture capital once (5)

Ross

I believe the answer is:

petra

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'capital once' is the definition.
I can't judge whether this definition defines the answer.

'aide saving regular tranches of venture' is the wordplay.
'aide' becomes 'pa' (abbreviation for personal assistant).
'saving' means one lot of letters goes inside another.
'regular tranches of' means one should take alternating letters (letters taken at regular intervals).
The alternate letters of 'venture' are 'etr'.
'pa' going around 'etr' is 'PETRA'.

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(Other definitions for petra that I've seen before include "Ancient Jordanian city carved from rock" , "Old city in Jordan" , "Historic city in Jordan" , "Long-lost city of Jordan rediscovered in 1812" , "Burgon's rose-red city" .)

I've seen this clue in The Times.
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