In order to take advantage of India’s expanding venture debt market, Stride Ventures closed its third fund at a $100 million valuation. It appears at a time when macroeconomic headwinds have caused a sharp decline in private equity investing.
For the fund’s final close, Stride Ventures intends to raise an additional $100 million, the company announced in a press release. After receiving a fund license, the company was able to raise the money in four months.
According to Stride Ventures, it will invest in rapidly expanding startups that have solid business models, strong unit economics, and knowledgeable management teams. It also stated, without naming them, that a variety of institutional investors, including banks, insurance firms, and family offices, supported its third fund.
Stride Ventures claims that it has successfully distributed more than 100% of its commitments, including principal redemptions and coupon payouts, to the Fund I’s early investors. In addition to Sugar Cosmetics, The Good Glamm Group, Mensa Brands, Exotel, Yubi, MoneyView, Battery Smart, ReshaMandi, and others, the company has invested in more than 100 startups across a variety of industries.
Stride Ventures, which was founded in 2019, has raised three funds to date and closed its second fund in August of last year with a $200 million corpus.