Stride Ventures, an Indian venture lending fund, announced the first close of Stride Ventures India Fund II, securing commitments of INR 550 crores out of its target corpus of INR 1,000 crore, with an additional greenshoe option of INR 875 crore.
The firm will be continuing its strategy of working closely with founders and fundamentally strong companies backed by venture capitalists.
The firm aims to ramp up deployment in late stage startups across sectors like B2B Commerce, Healthcare, Agritech, Fintech and D2C brands with average ticket size upto INR 75 crores.
In addition to family offices and institutional investors, the firm will diversify its investor base outside India for Stride Ventures India Fund II, on the lines of the maiden fund.
Led by Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures is focused on providing tailor-made debt solutions to growth-stage companies in India and enabling them to strategically allocate capital.
Previously, the firm has invested in late stage and growth stage startups such as Infra.Market, Spinny, HomeLane, SUGAR Cosmetics, Zetwerk, Bizongo, Pocket Aces, MyGlamm, DocsApp etc
Stride Ventures has been one of the most active venture debt companies this year, having made disbursals of over INR 400 crores in 2021 through 20 investments. The firm remains on track to announce the final close of the second fund by the end of 2021. With its ability to recycle capital, Stride will effectively have more than INR 3,000 crore for funding startups across the tenure of the fund.