Stride Ventures Closes Third Fund at $165M

• ByStartupStory     |    May 2, 2024

Stride Ventures, a prominent player in the venture debt space, has announced the successful closure of its third fund, securing an impressive $165 million. This achievement marks a significant milestone for the firm, which launched the Stride Ventures India Fund III a year ago. The fund attracted a diverse group of investors, including insurance companies, family offices, corporate treasuries, and high net worth individuals (HNI).

Apoorva Sharma, Managing Partner at Stride Ventures, highlighted the firm’s expanded role in bolstering the Indian startup ecosystem, stating, “We are broadening our impact across the Indian startup ecosystem, with comprehensive financial solutions for working capital, capex, in-organic expansion, and growth.”

The success of this latest fund follows Stride Ventures’ earlier fundraising efforts, with the first fund in 2019 amounting to $50 million and the second in 2021 totaling $200 million.

“We are thrilled to have garnered such strong support from our investors,” remarked Ishpreet Singh Gandhi, Founder and Managing Partner of Stride Ventures. “As we close Fund III, our vision extends beyond the immediate market horizon. This approach aligns with the global transformation and growth trends within the startup ecosystem.”

Stride Ventures has made significant contributions to over 140 startups spanning various sectors, including consumer goods, fintech, agritech, B2B commerce, healthtech, B2B SaaS, mobility, and energy solutions (EV). Notable names within its portfolio include BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, Nat Habit, and AgroStar.

The firm’s commitment to its investors was further underscored by its successful return of Fund I in its entirety, showcasing its prowess in navigating the dynamic startup landscape.

According to a report released by Stride Ventures earlier this year in February, venture debt investments into Indian startups surged by 50% in 2023, reaching $1.2 billion. The report also highlighted a significant rise in deal volume, with approximately 175-190 deals recorded in 2023, reflecting a compounded annual growth rate (CAGR) of about 34% from 2017 to 2023.

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