Stride Ventures, a domestic venture debt fund that has supported companies like Mensa Brands and HealthifyMe, announced on Wednesday that it has reached the third debt fund’s final close at $165 million, $35 million less than it had at the end of the previous fund.
The company has made investments in businesses such as BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, Nat Habit, and AgroStar out of its third fund.
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Over 140 Indian startups in the fields of consumer, fintech, agritech, B2B SaaS, healthtech, mobility, and energy solutions have received investments from Stride Ventures.
At $200 million, it successfully closed the second fund in 2022. The company has been contacted by DealStreetAsia to find out why Fund 3 is smaller than Fund 2.
The firm stated that a variety of investors, including insurance firms, family offices, corporate treasuries, and high net worth individuals (HNI), participated in the fund without providing particular information.
Apoorva Sharma, Managing Partner, Stride Ventures, said, “We are broadening our impact across the Indian startup ecosystem, with comprehensive financial solutions for working capital, capex, in-organic expansion and growth.
Over the past two to three years, the demand for venture debt in the nation has increased as more startup owners saw it as a viable solution for meeting their working capital needs.
A number of companies, including BlackSoil, Alteria Capital, Vivriti Asset Management, Edelweiss Wealth Management, and Anicut Capital, have introduced new vehicles in recent years in response to this increasing demand.
About Stride Ventures
Stride, a reputable and trustworthy partner in enabling entrepreneurial aspirations in India and throughout the world, has established itself as a leader in creative startup finance and financing for the startup ecosystem.
