Mumbai: Stride Ventures has launched three funds across India, the Gulf Cooperation Council and the UK, raising $300 million over the past six months to be deployed in their respective territories, top executives at the venture debt platform said.
“These regions were chosen deliberately: India remains our home base and a benchmark for venture and growth credit. The GCC represents a rapidly maturing ecosystem with strong policy support, and the UK serves as a strategic gateway to Europe’s innovation and financial hubs,” Apoorva Sharma, managing partner at Stride Ventures, told Mint.
The GCC is an alliance of Middle Eastern countries Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.
The funds, which were launched around April, have a collective target of almost $600 million. However, Stride did not provide any details. Each fund will operate under local regulatory frameworks and will follow deal structures that are suited to their ecosystem, the company said. The funds count sovereign funds, banks, insurance companies, treasuries and asset managers among their investors, although Stride did not reveal any names.
“Our mission has always been to empower entrepreneurs to build boldly and sustainably, grounded in trust and collaboration. Today, that same approach – refined in India – is finding global resonance, reflected in the sovereign and institutional partnerships now backing our platform across borders,” said Ishpreet Singh Gandhi, founder and managing partner of Stride Ventures.
With the entry into the GCC and Europe, Stride aims to offer local expertise, support cross-border portfolio expansion and unlock growth pathways for Indian and overseas entrepreneurs building for the global markets.
“What changes with global capital is not our focus, but our flexibility. We now have the capability to support cross-border businesses with multi-currency structures across INR, GBP and USD. That positions us to serve companies that are building across borders,” Sharma explained.
Local engagement
Stride has local teams that have engaged with the policymakers, regulators and capital market ecosystems of these regions to strengthen its expansion plans, Sharma added.
Over the years, Stride has catered to the growing needs of startups that are increasingly looking for one-stop debt solutions that simplify fundraising and financial packages.
It has backed more than 140 startups across consumer, fintech, agritech, B2B commerce, health-tech, B2B SaaS, mobility and energy solutions in India. Its portfolio companies include BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, Nat Habit and AgroStar.
Stride closed its third Indian venture debt fund at $165 million in 2024. Its other two funds were $50 million (raised in 2019) and $200 million (2021). The growing fund size has enabled the firm to underwrite larger cheques and support later-stage companies and platforms with more structure and scalable solutions, Stride said.
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