Venture debt firm Stride Ventures has closed the Stride Ventures India Fund II at $200 million.
It plans to invest in 60-70 companies from the second fund. The average ticket size will be $4-5 million. The second fund witnessed participation from leading banks, marquee family offices, corporate treasuries, sovereign funds, PE funds, insurance firms, and HNIs contributing to its success. The fund saw its first close in August 2021.
Ishpreet Singh Gandhi, Founder, and Managing Partner, Stride Ventures, said, “Stride Ventures has already committed a large portion of the fund in industry-leading start-ups and our goal is to continue being a preferred lender while developing innovative alternate financing solutions for founders.”
Aligned to the mission of truly empowering the Indian startup ecosystem’s ambitions, the firm has effectively enabled them to scale their businesses whilst parallelly giving industry best returns to investors, Gandhi added.
The fund, being sector agnostic, has investments in sectors such as consumer, fin-tech, agri-tech, B2B commerce, health-tech, B2B SaaS, mobility & energy solutions (EV). Through the fund, Stride Ventures continues to collaborate closely with founders and fundamentally sound businesses supported by notable venture capitalists.
The fund’s portfolio includes CredAvenue (Yubi), MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Perfios, Moneyview, VideoVerse, Chalo, and Groyyo amongst others.