Stride Ventures closes third fund at $165M

Stride Ventures, one of the leading venture debt firms, has announced the final close of its third fund at $165 million.

The Stride Ventures India Fund III was launched a year ago, and the firm said it has garnered support from a diverse mix of investors, including insurance companies, family offices , corporate treasuries, and high net worth individuals (HNI).

Prior to this third fund, Stride Ventures has raised two funds, with the first one in 2019 at $50 million and the second in 2021 at $200 million.

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

Stride Ventures has provided funding to over 140 startups across sectors such as consumer, fintech, agritech, B2B commerce, healthtech, B2B SaaS, mobility, and energy solutions (EV). Among the leading names in its portfolio include Bluestone, Money View, Moove, Foxtale, CureSkin, NewMe, Nat Habit, and Agrostar.

Stride Ventures Founder and Managing Partner Ishpreet Singh Gandhi, said, “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.”

According to this venture debt firm, it has successfully returned its Fund I back to its investors in its entirety.

In an earlier report in the month of February this year, Stride Ventures had noted that venture debt investments into Indian startups saw a 50% increase in 2023 to touch $1.2 billion.

The report said the year 2023 saw approximately 175-190 deals reflecting a compounded annual growth rate (CAGR) of about 34% from 2017-2023.