We derive a new yield function for materials containing spheroidal voids embedded in a perfectly-plastic anisotropic Hill-type matrix. Using approximate limit-analysis and a restricted set of trial velocity fields, analytical yield loci are derived for a hollow, spheroidal volume element containing a confocal spheroidal void. Alternatively, the yield loci are determined through numerical limit-analysis, i.e., employing a larger set of velocity fields. The numerical results are quasi-exact for transversely isotropic materials under axisymmetric loading. We show that an enhanced description of admissible microscopic deformation fields results in a close agreement between analytical and numerical macroscopic yield loci. To cite this article: S.M. Keralavarma, A.A. Benzerga, C. R. Mecanique 336 (2008).