Stride Ventures, a venture debt firm in India, has successful marks first close of its third venture debt fund at USD 100 million. The firm is targeting a final close of over USD 200 million for the third fund.
Stride Venture have backed brands such as 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," said Ishpreet Gandhi, Founder and Managing Partner of Stride Ventures. "Stride takes immense pride in being the largest contributor of credit to new age businesses that has sanctioned over about Rs 5000 crore in the Indian startup ecosystem. Stride Ventures' success in delivering value to its investors is a testament to our rigorous processes and strong internal governance structures.”
“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,” said Apoorva Sharma, Managing Partner at Stride Ventures. "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."
Stride Ventures’ third fund has received backing from a varied group of institutional investors, including banks, insurance companies, and family offices. The company, in a statement, said that this fund will help making investments in fast-growing startups that exhibit robust business models, strong unit economics, and skilled management teams.