Indian venture debt firm Stride Ventures has announced the first close of its Abu Dhabi Global Market (ADGM) Fund V as it focuses on startups in the Gulf Cooperation Council (GCC) region.
In a statement, Stride Ventures said through the first close of the fund it will be able to provide non-dilutive and flexible shariah-compliant capital to high-growth startups across the region. The size of the fund or the amount raised as the first close was not disclosed.
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Stride Ventures Founder & Managing Partner Ishpreet Gandhi
” align=”center”> Stride Ventures Founder & Managing Partner Ishpreet Gandhi
The venture debt firm has concluded transactions with ticket sizes averaging $10-15 million and claimed a $110 million pipeline across sectors of fintech, healthtech, logistics and climate tech.
Stride Ventures Founder and Managing Partner Ishpreet Singh Gandhi said, “The region is at the centre of one of the most dynamic growth stories of our time – driven by a clear vision for economic diversification and global competitiveness. At Stride Ventures, we are here to be a long-term partner in that journey.”
Through the ADGM Fund V, Stride plans to triple its assets under management in the GCC to over $500 million by 2026.
According to Stride Ventures, it has doubled its presence across the GCC, with a particular focus on Saudi Arabia. In Saudi Arabia, the Riyadh Digital Innovation District (RDID), led by the Royal Commission for Riyadh City, has provided an enabling environment for global investors and ecosystem partners. As part of this, The Garage has served as a platform connecting Stride directly with startups, fund managers, and the broader entrepreneurial ecosystem, helping the firm establish meaningful partnerships and a growing presence in the Kingdom.
Stride Ventures is also partnering with top banks in the region to enhance access to venture debt for new-age businesses.
Edited by Jyoti Narayan
