Stride Ventures announces first close of Stride Ventures India Fund II
Stride Ventures has secured commitments of Rs 550 crore, out of its target corpus of Rs 1,000 crore, with an additional greenshoe option of Rs 875 crore.
Venture lending fund Stride Ventures on Wednesday announced the first close of Stride Ventures India Fund II, for which it has secured commitments of Rs 550 crore.
Stride Ventures has secured commitments of Rs 550 crore, out of its target corpus of Rs 1,000 crore, with an additional greenshoe option of Rs 875 crore.
The fund received approval for its Rs 1,875 crore plan from Securities Exchange Board of India (SEBI) in June 2021.
Stride Ventures marks first close of second fund at Rs 550 crore
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Last Updated: Aug 04, 2021, 12:52 PM IST
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Stride Ventures, a venture debt firm, had in May launched its Rs 1,000-crore Stride Ventures India Fund II, with a green shoe option of Rs 875 crore.
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Since most banks do not lend to loss-making startups and need collateral security, venture debt is the most sought after by the startup ecosystem.
Mumbai:Stride Ventures has announced the first close of its second fund at Rs 550 crore within two months of launch, making it one of the fastest fundraisings of this size in the region.
Stride Ventures Announces First Close Of Its 2nd Fund At INR 550 Cr inc42.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inc42.com Daily Mail and Mail on Sunday newspapers.
Investment firm Stride Ventures on Tuesday announced a debt fund for Indian startups with corpus that can go up to Rs 1,875 crore. The firm will continue investing in early to late-stage startups with ticket size from the new fund expected to go up to Rs 70 crore, Stride Ventures said in a statement. Stride Ventures is launching Stride Ventures India Fund II with a targeted corpus of Rs 1,000 crore and a greenshoe option to raise an additional Rs 875 crore, the statement added. With this targeted corpus, Stride Ventures expects to recycle Rs 3,000 crore total debt funding in startups over a period of four years.