03-07-2025
Stride Ventures Marks First Close of ADGM Fund V to Back GCC Startups
The firm has already built a pipeline worth USD 110 million across key sectors including fintech, healthtech, logistics, and climate tech, with typical transaction sizes averaging USD 10–15 million.
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Indian venture debt firm Stride Ventures has announced the first close of its ADGM Fund V, marking a significant step in its expansion across the Gulf Cooperation Council (GCC) region.
While the firm did not disclose the size of the fund or the amount raised, it confirmed that the vehicle will provide non-dilutive, shariah-compliant capital to high-growth startups.
"With ADGM Fund V, we aim to support the region's innovation economy with flexible capital that empowers founders without equity dilution," said Ishpreet Singh Gandhi, Founder and Managing Partner at Stride Ventures. "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."
The firm has already built a pipeline worth USD 110 million across key sectors including fintech, healthtech, logistics, and climate tech, with typical transaction sizes averaging USD 10–15 million.
Stride Ventures aims to triple its assets under management (AUM) in the GCC to over USD 500 million by 2026, with a sharp focus on Saudi Arabia. The firm credited initiatives like the Riyadh Digital Innovation District (RDID) and The Garage—both spearheaded by the Royal Commission for Riyadh City—for providing a conducive environment for venture debt expansion.
Stride has also doubled its regional footprint and is partnering with top banks to increase access to venture debt for next-generation businesses.
"Our collaborations with leading banks and local ecosystems will ensure founders get the capital they need to scale, while retaining control of their businesses," Gandhi added.
