Stride Ventures, one of India’s leading venture debt funds, has disbursed over INR 200 crores across 10 deals that were sanctioned in 2021.
The firm has also partnered with leading banks to provide an augmented financing facility of up to INR 100 crores to its portfolio companies as it continues to build innovative alternate financing solutions within venture debt.
Traditional banking institutions have benefitted from their exposure to Stride’s well-diversified portfolio owing to the firm’s continued focus on identifying fundamentally strong companies that have maintained zero delinquencies from the fund’s investments, the statement said.
Since inception, the firm has funded more than 20 companies through Fund1, becoming one of the most active venture debt firms in India during the COVID-19 pandemic. The most recent deals have been with Spinny, a leading used car marketplace for INR 45 crores; Bizongo, a leading B2B marketplace for packaging solutions for INR 15 crores; and Infra.Market, the fastest unicorn in India for INR 50 crores. The Fund 1 has also invested in leading healthcare and B2B SaaS companies this year.
Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, said, “The success of Stride’s first fund can be attributed to our ability to constantly innovate and bring novel solutions to the venture ecosystem. We wish to express our gratitude towards our portfolio partners, investors and the venture ecosystem at large. With our first fund exceeding expectations and being oversubscribed, we are actively identifying opportunities for our second fund.”
Stride Ventures’ focus will be to continue partnering with early and growth-stage companies with higher ticket sizes for working capital and other debt requirements.
Stride Ventures is focused on providing tailor-made debt solutions to growth-stage companies in India and enabling them to strategically allocate capital. Bringing more than six years of venture lending and strong banking industry experience, the fund helps its portfolio companies leverage the banking ecosystem through their domain expertise and extensive network.
