Stride Ventures, a venture debt fund, has disbursed over Rs 200 crore across 10 deals that were sanctioned in 2021. This includes investments in startups such as Spinny, Bizongo, and Infra.Market.
The venture debt firm has also partnered with leading banks to provide an augmented financing facility of up to Rs 100 crore to its portfolio companies.
According to Stride Ventures, traditional banking institutions have benefitted from their exposure to its portfolio of investee startups as they have maintained zero delinquencies. It has funded more than 20 companies through its Fund1 across segments of healthcare and B2B SaaS.
Recenttly, Stride Ventures has 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.
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 startup ecosystem in India is once again gaining momentum with large pools of capital available for investments as evidenced by the development of seven unicorns in the last 10 days.
It stated that founders today are increasingly aware of alternate sources of capital available to them to fuel the growth of their business. Debt, as an asset class, is further obtaining interest among the founders as they look to raise capital while preserving dilution.
The focus of Stride Ventures will be to continue partnering 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, publicly available data analysed.