Stride Ventures Ends Fund III with $165M, Set for Cross-Sector Deployments

Stride Ventures logo

Three points you will get to know in this article:

  • The fund supports startups in consumer brands, financial services, and cleantech.
  • Fund III’s portfolio includes BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, and Nat Habit.
  • Stride Ventures announced the first close of the third fund at $100M ( approximately ₹834 crores INR) a year ago, with a final target of $200M (approximately ₹1669 crores INR).

Introduction to Stride Ventures

Stride Ventures is the largest and most active venture debt firm from India. Founded in 2019, Stride Ventures is renowned for providing innovative startup funding and financing, empowering entrepreneurial ambitions in India and globally. The company boasts a 42-member strong team and has screened over 12,000 companies across 12+ sectors, operating from 5 office locations. Stride Ventures focuses on good governance, innovation, and inclusivity, adhering to its core values of integrity, entrepreneur-centric stewardship, goodwill, ingenuity, and inclusivity.

Fund III Closing and Investor Support

Stride Ventures, a venture debt firm, proudly announces the successful closure of its Stride Ventures India Fund III, securing a hefty $165 million. This achievement wouldn’t have been possible without the generous support from a diverse range of investors, including insurance companies, family offices, corporate treasuries, and high-net-worth individuals (HNIs).

Vision for Empowering Startups

With a clear vision in mind, the fund is dedicated to empowering startups in various sectors such as consumer brands, financial services, and cleantech. Already, the Fund III boasts an impressive portfolio featuring renowned names like BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, and Nat Habit, among others. This is just the beginning of an exciting journey towards fostering innovation and growth in the entrepreneurial landscape.

Strategic Outlook for Future Growth

In response to the development, Ishpreet Singh Gandhi, founder and managing partner of Stride, stated, “With the closing of Fund III, our vision looks beyond the current market landscape. This strategy is in line with the global transformation and growth trends in the startup ecosystem.”

Jumping into the conversation, Apoorva Sharma, the managing partner at Stride, expressed, “We’re extending our reach within the Indian startup scene, offering comprehensive financial solutions for various needs like working capital, capex, expansion, and growth. By supporting trailblazing market leaders, we position ourselves right at the forefront of investment innovation tailored for Indian startups.”

A year back, we announced the first closure of our third fund at $100 million, setting our sights on a final close at $200 million.

Vibrant Venture Capital Landscape in India

Stride, an all-encompassing venture capital firm, proudly showcases a diverse portfolio comprising over 140 startups spanning various industries such as financial technology, agricultural technology, business-to-business software as a service, and transportation. This achievement is particularly noteworthy amidst a flurry of activity in the venture capital and private equity realms, with several firms unveiling fresh funds earmarked for investment in Indian startups. Notably, on Tuesday (April 30), ChrysCapital, a private equity firm, announced the successful closure of its $700 million Continuation Fund, aimed at preserving its stake in the National Stock Exchange.

Fresh off the press, IvyCap, a notable VC firm, just wrapped up its third fund, gathering support from esteemed institutions like IIT Alumni Trust and family offices, amassing a hefty INR 2,100 Cr (about $251 Mn).

In another exciting development, Norwest Venture Partners unveiled its 17th fund, boasting a whopping $3 Bn. With a keen eye on India, the fund aims to make waves in the market.

India boasts a bustling landscape of over 2,500 PE and VC firms, raising a substantial sum of more than $5 Bn in fresh funds in 2023, and a staggering $18 Bn+ in 2022.

Stride Ventures has triumphantly closed its Stride Ventures India Fund III with a substantial $165 million, bolstered by a diverse set of investors. This achievement paves the way for empowering startups spanning consumer brands, financial services, and cleantech, evidenced by an impressive portfolio of renowned ventures. With a forward-looking vision, the fund positions itself at the vanguard of investment innovation, offering comprehensive financial solutions to fuel the growth of Indian startups. This significant milestone aligns with a flourishing venture capital landscape in India, characterized by a surge in fundraising activities, portending vibrant growth for entrepreneurial endeavors in the region.

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