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Venture debt firm Stride Ventures has announced the first close of its third fund at $100 million and is targeting a final close of over $200 million
Stride has 100+ portfolio companies, including SUGAR Cosmetics, The Good Glamm Group, Mensa Brands, Exotel, Yubi, MoneyView, VideoVerse, Miko, Perfios, HealthifyMe, Ace Turtle, and Waycool. “We are ecstatic to announce the first close of our third fund. Stride takes immense pride in being the largest contributor of credit to new-age businesses that has sanctioned over ₹5,000 crore in the Indian start-up ecosystem. Stride Ventures’ success in delivering value to its investors is a testament to our rigorous processes and strong internal governance structures,” said Ishpreet Gandhi, Founder and Managing Partner of Stride Ventures.
Also read: Incubators get ₹611-cr under Startup India Seed Fund Scheme so far
The firm has also distributed over 100 per cent of its commitments, which included coupon payouts and principal redemptions, to the early investors of its Fund 1. “Stride’s founder-centric approach, coupled with the overwhelming support from our investors, enables us to keep raising the bar for the venture debt market in India. We see a growing demand for venture debt as startups look to optimise their capital structure and preserve equity for future rounds. With the launch of our third fund, we’re well-positioned to meet the unique debt requirements and global ambitions of Indian startups,” said Apoorva Sharma, Managing Partner at Stride Ventures.
Stride Ventures’ third fund has received backing from a varied group of institutional investors, including banks, insurance companies, and family offices.
Stride Ventures is a venture debt firm that provides customised debt solutions to startups in India in sectors such as consumer internet, fintech, SaaS, and B2B platforms.
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