Stride Ventures Closes $200 Mn worth of Fund to Back 60 to 70 Start-ups

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The portfolio of the fund includes Yubi, MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Chalo and Groyyo, in addition to others.

The fund has been offered commitments from banks, marquee-family offices corporate firms, sovereign funds and private equity funds. insurance companies, and high-net individuals.

Stride claims to have invested more than INR 1600 crore into more than 70 businesses working in fintech, consumer and agritech and healthtech B2B SaaS, mobility and energy solutions

Venture debt company Stride Ventures has closed its second fund, Stride Ventures India Fund II with a corpus of $200 million.

The fund will pay checks ranging from $4 million to $5 million to 60-70 start-ups for a period which is 4 years.

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The sector-agnostic fund has supported startups across a variety of industries, including fintech, consumer Agritech B2B commerce as well as healthtech B2B SaaS mobility, energy and mobility solutions.

The portfolio of the fund includes Yubi (formerly called CredAvenue), MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Perfios, Moneyview, VideoVerse, Chalo and Groyyo as well as many others.

The fund has received commitments from banks marquee-family offices corporations sovereign funds as well as private equity funds. insurance companies, as well as high-net individuals.

“Stride Ventures is already committing a portion of its funds to top industry startups. Our aim is to be an preferred lender as we develop new and innovative alternatives to financing for founders. In line with our mission, we have successfully helped the startups to expand their operations and at the same time, provide industry-leading return to the investors we invest in” said Ishpreet Singh Gandhi. the founder as well as managing partner at Stride Ventures.

In 2019 in Delhi, the venture debt firm is run by Gandhi and Abhinav Suri. Both partners have experience in the banking sector. Some of the firms they worked for included Citi, ANZ, IDFC, Kotak Bank, and Yes Bank.

“The economic climate of the moment has enabled thriving businesses to be more open to debt-based transactions than before. Our second investment fund’s success is testimony to this, and with the constant encouragement of our investors we’re certain that we’ll continue to help to accelerate the growth in the industry,” added Apoorva Sharma the partner of Stride Ventures.

Stride says it has invested more than INR 1600 crore in more than 70 companies in the fields of fintech, consumer, agritech B2B commerce as well as healthtech B2B SaaS for B2B Mobility and energy solutions.

The fund closed in August of 2021. Stride announced the initial closing for its second funding after it raised INR 550 crore. Also, it had an option to greenshoe INR 875 crore.

In accordance with an Inc42 study the report states that there were 78 venture capital funds established in the first quarter of 2022. The funds collectively raised more than $12 Bn during the same time frame.

A few of the most prominent VC funds include Sequoia Capital, General Atlantic, Elevation Capital, and Accel.

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