Stride Ventures closes its second fund of $200 million to support startups
- ByStartupStory | August 18, 2022
Stride Ventures, a venture debt firm, has announced the $200 million closing of its second Stride Ventures India Fund II. In August 2021, the fund’s first closing occurred. Similar to the first fund, the success of the second was aided by participation from notable family offices, corporate treasuries, sovereign funds, PE funds, insurance companies, and HNIs.
The company now has investments totalling more than Rs 1,600 crore spread over more than 70 firms that provide consumer, fintech, agri-tech, B2B commerce, health tech, B2B SaaS, mobility, and energy solutions. CredAvenue (Yubi), MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Perfios, Moneyview, VideoVerse, Chalo, and Groyyo are just a few of the companies currently in the fund’s portfolio.
The debt investor claims that over time, the funding requirements of Indian startup entrepreneurs have changed dramatically. Stride Ventures makes an effort to address this through its alternative financing models by working closely with entrepreneurs and fundamentally good firms backed by renowned venture capitalists. Stride also has a shared lending arrangement with the nation’s top banks.
Gandhi, founder and managing partner at Stride Ventures, said, “Stride Ventures has already invested a sizable chunk of the fund in market-leading firms, and our objective is to maintain our position as a preferred lender while creating creative alternate financing options for founders. We have successfully helped them scale their businesses while simultaneously offering industry-best returns to our investors. This is in line with our aim of truly supporting the Indian startup ecosystem’s ambitions.”
About Stride Ventures
Stride, a company founded in 2019 by Ishpreet Singh Gandhi, offers comprehensive solutions that go beyond venture debt to address the unique issues encountered by high-growth entrepreneurs with the support of top VCs. It is a sector-neutral venture debt fund run by seasoned former bankers. Stride wants to offer unique solutions that are specifically suited to the requirements of its partners.
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