Stride Ventures closes third fund at $165 million

This fund has garnered support from a diverse mix of investors, including insurance companies, family offices, corporate treasuries and high net-worth individuals (HNI), the firm said in a statement on Wednesday.

“We are broadening our impact across the Indian startup ecosystem, with comprehensive financial solutions for working capital, capex, in-organic expansion and growth,” Apoorva Sharma, managing partner at Stride Ventures, said.

The fund primarily focuses on consumer-centric brands, financial services, and clean-tech sectors. Some of its portfolio companies include BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, Nat Habit, and AgroStar.

“This approach aligns with the global transformation and growth trends within the startup ecosystem,” the venture debt firm’s founder and managing partner Ishpreet Singh Gandhi said in the statement.

With over 140 startups across consumer, fin-tech, agri-tech, B2B commerce, health-tech, B2B SaaS, mobility & energy solutions (EV), Stride Ventures is sector-agnostic and looks to address the capital needs of Indian startups.

Over the last year, India’s venture-debt market surpassed the billion-dollar mark at $1.2 billion as rising confidence from founders, venture capitalists and investors fuelled deals in the sector, Stride Ventures said in a report in February. 

The billion-dollar milestone comes as companies and startups worldwide have been struggling with a decline in funding activity as high-interest rates, uncertain macroeconomic conditions and geopolitical concerns have damped investor sentiment globally.

As a result, startups have increasingly shown a preference for one-stop debt solutions that simplify fundraising and financial packages. The trend further underlines the market’s maturity and the increasing sophistication of venture-debt solutions tailored to the needs of companies.

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Published: 01 May 2024, 04:51 PM IST