Indian venture debt firm raises $74m in first close of its second fund

Stride Ventures, an Indian venture debt firm that focuses on growth-stage companies backed by institutional capital, announced the first close of its second fund.

More details

• Investors: Undisclosed family offices and institutional investors
• Amount raised: 5.5 billion rupees (US$74.1 million)
• Target amount: 10 billion rupees (US$137 million), along with a greenshoe option of over 8.7 billion rupees (US$118 million)
• Average ticket size for investments: Up to 750 million rupees (US$10.1 million)
• Sectors: Business-to-business commerce, healthcare, agritech, fintech, and direct-to-consumer brands

More company updates

• Stride Ventures has already made disbursals of over 4 billion rupees (US$53.9 million) in 2021 via 20 investments.
• It has invested in several late-stage and growth-stage startups such as Infra.Market, Spinny, HomeLane, Sugar Cosmetics, Zetwerk, Bizongo, Pocket Aces, MyGlamm, and DocsApp.
• In addition to family offices and institutional investors, Stride Ventures said it will look to diversify its investor base outside India for the rest of the targeted corpus of the second fund.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.

Currency converted from US dollar to Indian rupees: US$1 = 74.14 rupees.