Stride Ventures has closed its third fund at a $100 million valuation in an effort to take advantage of India's expanding venture debt market. It seems to have happened at a time when macroeconomic uncertainty has caused a sharp decline in private equity investment.

Stride Ventures hopes to raise an additional $100 million for the fund's ultimate closing. Following the receipt of a licence for the fund, the company was able to raise the money in four months. Stride Ventures, it will invest in rapidly expanding firms that have solid business models, good 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, which includes coupon payments and principal redemptions, has effectively distributed more than 100% of its commitments 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 organisation has invested in more than 100 companies across a variety of industries.

Stride Ventures, which was founded in 2019, has raised three funds to date and completed its second fund in August of last year with a $200 million corpus.