Stride Ventures Announces First Close of Third Venture Debt Fund at $100M
Delhi – Stride Ventures, one of the leading and most active venture debt firms in India, has announced the successful first close of its third venture debt fund at $100M. The pioneering firm continues to be at the forefront of the venture debt market in India and is targeting a final close of over $200 million for the third fund.
The Indian Venture Debt market is expected to reach an annual deployment of $ 3-4 billion by 2025 and Stride is strategically harnessing this growth potential to build a legacy brand. It has demonstrated industry-leading returns with best-in-class asset quality and a well-diversified portfolio of 100+ market leaders like SUGAR Cosmetics, The Good Glamm Group, Mensa Brands, Exotel, Yubi, MoneyView, VideoVerse, Miko, Perfios, HealthifyMe, Ace Turtle and Waycool to name a few. During the past two years, the firm has received multiple prestigious awards for its role in introducing and pioneering alternative funding in India.
“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 ~ INR 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.”
The firm accomplished another remarkable feat by successfully distributing over 100% 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,” 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 solid backing from a varied group of institutional investors, including banks, insurance companies, and family offices. This fund will persist in making prudent investments in fast-growing startups that exhibit robust business models, strong unit economics, and skilled management teams. We also want to take this opportunity to express gratitude to our investors, founders, and the entire VC ecosystem for their continued trust and support.