{"id":40070,"date":"2024-05-01T12:36:24","date_gmt":"2024-05-01T12:36:24","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/01\/stride-ventures-closes-third-fund-at-165-million\/"},"modified":"2024-05-01T12:36:24","modified_gmt":"2024-05-01T12:36:24","slug":"stride-ventures-closes-third-fund-at-165-million","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/01\/stride-ventures-closes-third-fund-at-165-million\/","title":{"rendered":"Stride Ventures closes third fund at $165 million"},"content":{"rendered":"
\"Stride<\/div>


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Venture debt<\/a> firm Stride Ventures<\/a>, which has backed startups such as Zepto, Rebel Foods, Sugar Cosmetics and Mensa Brands, has announced the final close of its third fund<\/a> at $165 million. <\/p>\n

Stride Ventures has already provided capital to startups like BlueStone, Moneyview, Foxtale, NewMe, Nat Habit and Agrostar from its third fund, through which it will primarily focus on consumer, financial services and clean tech sectors, it said in a statement on Wednesday.<\/p>\n

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The capital for Stride\u2019s third fund<\/a> has primarily been raised from insurance companies, family offices, corporate treasuries and high net worth individuals (HNI).<\/p>\n

The third fund had made its first close at $100 million in May 2023. However, the final close for its Fund-III has fallen short of its initial target of $200 million. <\/p>\n

Speaking to ET, Stride Ventures managing partner Apoorva Sharma attributed the readjustment in the targeted raise to a broader slump in the investment ecosystem. <\/p>\n

\u201cWe thought about the fund in late 2022 and then the rate of growth of venture capital also defines the rate and growth of venture debt…over the last 18 months, the venture capital hasn’t really picked up momentum and the deployments are still less than what it was in 2021 and 2020,\u201d she said.<\/p>\n

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\u201cIn 2022, we thought $200 million is a good size, but then over the course of 2023 and the first four months of 2024 we made that cognisant call that there is no point in raising a certain number and not doing meaningful deployments,\u201d Sharma added.The venture debt firm had also backed online vehicle service platform GoMechanic, which was offloaded in a distress sale in May 2023. <\/p>\n

In a statement, Stride Ventures said it has returned its first fund, which was $50 million in size, and was raised in 2019, in its entirety. The firm\u2019s second fund, raised in 2021, had a $200 million corpus.<\/p>\n

Apart from Stride Ventures, some of the other debt funds operating in India are Alteria Capital, Trifecta, InnoVen Capital and Blacksoil.<\/p>\n

About 190 startups in India raised a total of $1.2 billion in venture debt in 2023, marking a 50% increase from 2022. In 2023 venture debt globally stood at about $60-65 billion, according to a recent report by Stride Ventures.<\/p>\n

On March 28, ET reported that venture debt firm Alteria Capital announced the final close of its third fund at Rs 1,550 crore ($195 million).<\/a><\/p>\n

In September last year, Trifecta Capital, which has backed startups such as PharmEasy, Cars24, Urban Company and Udaan, had made the final close of its third fund at Rs 1,777 crore (around $210 million).<\/a><\/p>\n

Fund-raising activity<\/b><\/p>\n

Stride\u2019s fund close has come at a time when investment firms have been raising record capital. Over 2022 and 2023, firms focused on backing Indian startups, including venture capital and private equity, have raised nearly $34 billion for 164 funds, according to a report by Praxis Global Alliance.<\/p>\n

In recent months, several funds, including those disbursing venture debt, have also raised capital.<\/p>\n

On April 30, early-stage investor IvyCap Ventures announced the final close of its third fund at Rs 2,100 crore (around $250 million). <\/a>Early-stage investment firm Capria Ventures also concluded the fundraising for its India Opportunity Fund at Rs 153 crore (around $19 million) during the month. <\/p>\n

In early April, technology-focused investor Filter Capital \u2013 run by former Warburg Pincus and Multiples Private Equity executives \u2013 made the final close of its first fund at Rs 800 crore ($96 million)<\/p>\n<\/div>\n


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Venture debt firm Stride Ventures, which has backed startups such as Zepto, Rebel Foods, Sugar Cosmetics and Mensa Brands, has announced the final close of its third fund at $165 million. Stride Ventures has already provided capital to startups like BlueStone, Moneyview, Foxtale, NewMe, Nat Habit and Agrostar from its third fund, through which it […]<\/p>\n","protected":false},"author":2,"featured_media":40071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[42184,21551,12496,5215,2458,39971,42183,41317,4117],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/40070"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=40070"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/40070\/revisions"}],"predecessor-version":[{"id":40072,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/40070\/revisions\/40072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/40071"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=40070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=40070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=40070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}