 "Investment firm Stride Ventures closes second India fund at $200 mn")
Stride Ventures, the venture debt firm, on Wednesday announced the close of its second India fund at $200 million for investments in consumer, financial technology, agriculture technology, B2B commerce and other sectors.
Stride Ventures India Fund II witnessed participation from banks, family offices, corporate treasuries, sovereign funds, private equity funds, insurance firms, and high net worth individuals. The fund’s first close in August 2021 had similar participation.
The fund’s portfolio includes CredAvenue (Yubi), MyGlamm, Zepto, BluSmart, Uni, Upstox, WayCool, MensaBrands, MediBuddy, Wiz Freight, Perfios, Moneyview, VideoVerse, Chalo, and Groyyo.
"Stride Ventures has already committed a large portion of the fund in industry-leading startups and our goal is to continue being a preferred lender while developing innovative alternate financing solutions for founders,” said Ishpreet Singh Gandhi, founder and managing partner of Stride Ventures.
“The current economic environment has made growing businesses more amenable to debt transactions than ever before, giving India's venture lending industry a chance to grow and evolve. The success of our second fund is a testament,” said Apoorva Sharma, partner at Stride Ventures.
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