Stride Ventures crosses Rs 200 Cr disbursals in 2021
Stride Ventures, has distributed more than Rs 200 crore across 10 deals that were sanctioned in 2021 including investments in startups such as Spinny, Bizongo, and Infra.Market.
The venture debt firm has also collaborated with the top banks to offer an expanded financing facility of up to Rs 100 crore to its portfolio companies.
According to Stride Ventures, conventional banking institutions have profited from their exposure to its portfolio of investee startups as they have sustained zero delinquencies. It has funded over 20 companies through its Fund1 across segments of healthcare and B2B SaaS.
Stride Ventures has recently disbursed Rs 45 crore to used car marketplace Spinny, Rs 15 crore to B2B marketplace for packaging solutions Bizongo, and Rs 50 crore to unicorn Infra.Market.
Speaking about the new development, Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, said, “The success of Stride’s first fund can be attributed to our ability to constantly innovate and bring novel solutions to the venture ecosystem. With our first fund exceeding expectations and being oversubscribed, we are actively identifying opportunities for our second fund.”
According to Strides Ventures, the Indian startup ecosystem is once again gaining momentum with big pools of capital available for investments as verified by the addition of seven unicorns in the last 10 days.
It stated that founders today are more aware of other sources of capital available to them to drive the growth of their business. Debt, as an asset class, is additionally gaining interest among the founders as they look to raise capital while maintaining dilution.
The focus of Stride Ventures will be to continue collaborating with early and growth-stage companies with higher-ticket sizes for working capital and other debt requirements.
Overall funding activity in the Indian startup ecosystem was positive in the first three months of 2021, with startups raising $3.76 billion in funding across 257 deals.
The Indian startup ecosystem has witnessed huge growth in 2021. The latest development from Stride Ventures will help accelerate the growth of several small startups.Shishir Gupta, Founder and CEO, StartupLanes
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