Award-winning venture debt firm, Stride Ventures, has announced the close of Stride Ventures India Fund II at USD 200 million. The fund saw its first close back in August, 2021. Similar to the first fund, the second fund witnessed participation from leading banks, marquee family offices, corporate treasuries, sovereign funds, PE funds, insurance firms, and HNIs, contributing to its success.
Having unlocked tremendous growth and scale momentum, the capital needs of the Indian startup ecosystem have evolved significantly. Stride Ventures, through its alternative financing structures, has successfully addressed just that. The venture debt fund, being sector agnostic, has investments in sectors such as consumer, fin-tech, agri-tech, B2B commerce, health-tech, B2B SaaS, mobility & energy solutions (EV).
Through the fund, Stride Ventures continues to collaborate closely with exceptional founders and fundamentally sound businesses supported by notable venture capitalists. The Fund’s portfolio includes CredAvenue (Yubi), MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Perfios, Moneyview, VideoVerse, Chalo, and Groyyo, amongst others.
Mr. Ishpreet Singh Gandhi, Founder and Managing Partner of Stride Ventures, said, "The growing investor trust in the Indian start-up ecosystem provided us with a great opportunity to develop a strong pipeline of deployments that we have utilised across various sectors. Stride Ventures has already committed a large portion of the fund to industry-leading startups, and our goal is to continue being a preferred lender while developing innovative alternate financing solutions for founders. Aligned with our mission of truly empowering the ambitions of the Indian startup ecosystem, we have effectively enabled them to scale their businesses while simultaneously providing the industry's best returns to our investors."
Speaking on this development, Apoorva Sharma, Partner, Stride Ventures, said, "We are pleased to announce the successful closing of India Fund II, our second flagship fund. The current economic environment has made growing businesses more amenable to debt transactions than ever before, giving India's venture lending industry a chance to grow and evolve. The success of our second fund is a testament to this, and with the continual support of our investors, we are certain that we will further contribute towards accelerating the growth of the ecosystem. "
Strong investor sentiment has propelled record fundraising in India-focused funds, and Stride Ventures’ success in closing Fund II underscores the long-term promise of India's venture debt story. Having pioneered joint-lending structures with leading banks and built a strong relationship for over three years, the firm has been able to build innovative alternate financing solutions within venture debt for founders to allocate capital more efficiently.