Venture debt firm Stride Ventures closes third fund at $165 million

Gurugram-based venture debt firm Stride Ventures has announced the closure of its third venture fund, Stride Ventures India Fund III, raising a total of $165 million or approximately Rs 1,380 crore. 

The fund has attracted a diverse array of investors, including insurance companies, family offices, corporate treasuries, and high-net-worth individuals (HNIs). 

"Stride Ventures announces the successful closure of Stride Ventures India Fund III at USD 165 million," said Apoorva Sharma, Stride Ventures' managing partner. 

Targeting strategic investment across diverse sectors

The new fund will focus on deploying capital to innovative Indian startups within a year, supporting sectors such as consumer, fintech, agri-tech, B2B commerce, health-tech, B2B SaaS, mobility, and energy solutions.

The portfolio for Fund III includes notable companies like BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, Nat Habit, and AgroStar.

The firm had earlier raised $200 million for Fund II and $50 million for Fund I. Fund II was closed in August 2022, and Fund 1 in December 2020.

Expanding influence in the Indian startup ecosystem

Stride Ventures aims to provide comprehensive financial solutions including working capital, capex, in-organic expansion, and growth to the Indian startup ecosystem.

Sharma elaborated on the fund's strategy, stating, "We are broadening our impact across the Indian startup ecosystem, with comprehensive financial solutions for working capital, capex, in-organic expansion and growth."

Aligning with global growth and transformation trends

Stride Ventures' approach extends beyond short-term market dynamics, focusing on aligning with global trends of transformation and growth within the startup ecosystem.

"As we close Fund III, our vision extends beyond the immediate market horizon. This approach aligns with the global transformation and growth trends within the startup ecosystem. "At Stride Ventures, we remain committed to supporting visionary founders and extend gratitude to our investors and partners who have supported and trusted us to be a catalyst for sustainable growth and innovation across the startup landscape," Stride Ventures founder and Managing Partner Ishpreet Singh Gandhi said.