Stride Ventures garners $200 million for a new fund

18 Aug 2022 , 10:43 AM

After the first closing of the fund in August 2021, the venture debt firm Stride Ventures announced the $200 million close of its Fund II. Fund II was initially established in May 2021. Banks, family offices, corporate treasuries, sovereign funds, private equity (PE) funds, insurance companies, and high net worth individuals were among the limited partners or sponsors in the second fund (HNIs).

Ishpreet Singh Gandhi, the founder and managing partner of Stride Ventures, told ET, “The growing investor trust in the Indian startup ecosystem gave us a tremendous opportunity to establish a solid pipeline of deployments that we have used across many sectors.

Stride has invested in industries including consumer, fintech, agritech, business-to-business (B2B), health tech, mobility, and energy solutions.

Yubi (formerly known as CredAvenue), MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Perfios, Moneyview, VideoVerse, Chalo, and Groyyo are a few of the funds in its portfolio.

The second fund had a corpus of Rs1,000 crore and an approximate Rs875 crore green shoe option. When the demand for the fund rises, exercising the green shoe option enables a venture capital or private equity company to raise more money than its initial target corpus.

Other debt funds active in India include Alteria Capital, Trifercata, and Blacksoil in addition to Stride Ventures.