Stride Ventures, a company specializing in debt financing, has completed the first round of its new fund in the Abu Dhabi Global Market (ADGM). This move helps the company grow its presence in the Gulf region (GCC).
With its fifth Abu Dhabi Global Market Fund, Stride aims to increase the assets it manages in the Gulf Cooperation Council (GCC) region to over $500 million by 2026.
Ishpreet Singh Gandhi, Founder and Managing Partner of Stride Ventures, said: “We strive to be a long-term partner, and through the Abu Dhabi Global Market Fund, we are committed to providing the capital, expertise and partnership that aspiring founders and innovators need to build businesses that define the future of the region.”
The company wants to be the biggest provider of Shariah-compliant funding to fast-growing startups in the region.
Stride Ventures is collaborating with top banks in the region to provide startups with easier access to project loans and comprehensive financing options tailored for fast-growing businesses.
The company shared that it has completed many important deals in the region, with each agreement usually between $10 million and $15 million.
It also has a strong plan for $110 million in deals, focusing on key areas like financial technology, health technology, logistics, and climate technology.
So far, the company has invested over $1.2 billion in more than 170 fast-growing companies worldwide.
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