Venture capital firm Stride Ventures closes $200 million fund

  • Venture Debt Company Stride Ventures sanctioned over ₹1600 crore to over 70 companies in various sectors.
  • Strides has various investments in sectors such as consumer, fintech, agritech, B2B commerce, healthcare and more.
  • Debt at risk disbursed in India last year was $538 million.

Venture debt firm Stride Ventures today closed its Stride Ventures India Fund II after raising $200 million. The fund’s portfolio includes startups like CredAvenue (Yubi), MyGlamm, ZeptoBluSmart and more.

Stride said the new fund has seen participation from major banks, reputable family offices, corporate treasuries, sovereign wealth funds, private equity funds, insurance companies and HNI.

“Investor’s growing confidence in the Indian start-up ecosystem has provided us with a great opportunity to develop a strong pipeline of deployments which we have used across various industries. Stride Ventures’ goal is to continue to be a preferred lender while developing innovative alternative funding solutions for founders,” said Ishpreet Singh Gandhifounder and managing partner of Stride Ventures.

The fund had its first closing in August 2021.

Strides has various investments in sectors such as consumer, fintech, agri-tech, B2B commerce, health tech, B2B SaaS, mobility and energy (EV) solutions.

It has sanctioned over ₹1600 crore to over 70 companies in these verticals.

“The current economic environment has made growing businesses more receptive to debt transactions than ever before, giving India’s subprime lending industry a chance to grow and scale,” added Apoorva Sharmapartner at Stride Ventures.

According to an India Venture Debt Report 2022, released by the company in May, venture capital debt disbursements amounted to $538 million last year.

The fund has facilitated joint loan structures with leading banks for three years. He claims to have built innovative alternative financing solutions within venture debt for founders to allocate capital efficiently.

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