Stride Ventures Makes History: First Indian Homegrown fund manager to receive IPA from FSRA (Abu Dhabi Global Market) for CAT 3C License, Paving the Way for Global Expansion

(MENAFN- Atteline) Abu Dhabi - 24 November 2023 - Stride Ventures, a venture debt fund renowned for supporting pioneering startups and high-growth companies, unveils its latest milestone by securing an in-principle approval (IPA) from the financial Services Regulatory Authority (FSRA) of Abu Dhabi Global market (ADGM) for a Category 3C (CAT 3C) licence. Subject to final regulatory approval from the FSRA on the grant of the licence, this landmark empowers Stride Ventures to explore new avenues for global expansion, particularly the option to establish an exclusive Fund in ADGM with a strategic focus on investments within the GCC region. Having successfully managed three thriving INR-denominated funds in India, along with a USD Fund at GIFT City, this newly acquired licence positions Stride Ventures to drive innovation and cultivate growth on a global scale.

This foray into Abu Dhabi positions the firm to actively engage in the GCC region's burgeoning startup landscape and seek global investments. This will enable Stride to cater to the global entrepreneurial ecosystem, and also ease Indian startups' entry into the GCC region with tailored financial solutions and mentorship.

Ishpreet Gandhi, Founder and Managing Partner at Stride Ventures, said “Stride Ventures is continuously breaking new ground to foster and elevate pioneering startups. Partnering with ADGM, a world-renowned financial hub, enhances our ability to empower a broader spectrum of businesses. ADGM's dynamic regulatory environment and strong support for financial innovation provide an ideal platform for Stride to facilitate the entry of Indian and other global startups into the GCC market. This will not only bolster their growth prospects but also contribute to a more diverse and robust economic landscape in the region.”

ADGM, globally recognised as a financial epicentre, is celebrated for its regulatory environment that fosters financial innovation and collaboration. Stride Ventures' establishment in ADGM amplifies its capacity to facilitate investments and offer financial expertise to emerging businesses across the GCC and beyond.

Mr. Arvind Ramamurthy, Chief of Market Development at ADGM, conveyed his enthusiasm "We are delighted to welcome Stride Ventures to Abu Dhabi Global Market. The potential of Stride establishing an exclusive Fund in ADGM underscores our standing as a magnet for global financial institutions. Their leadership in venture debt and vision for nurturing innovation and entrepreneurship align with ADGM's objectives, amplifying Abu Dhabi’s strategic value to global finance. Stride’s expanding presence across Abu Dhabi and the wider region has the potential to create sustainable economic value across multiple sectors through its approach. We look forward to nurturing the ecosystem and supporting pioneering startups in unison."

Stride Ventures' commitment to innovation and economic vitality mirrors ADGM's vision of becoming a nucleus for global business and financial services. Stride’s current focus spans multiple sectors, including technology, B2B, Climate, Fintech, and beyond, reflecting the evolving dynamics of the global economy and the ambitions of new-age entrepreneurs. With the license from ADGM, Stride Venture will enable the expansion of its portfolio companies to Abu Dhabi and the larger GCC region.

-ENDS-

About Stride Ventures:
Stride Ventures is a preeminent venture debt fund dedicated to supporting innovative startups and businesses on their growth trajectory. Prioritising the provision of timely and adaptable debt financing solutions, Stride Ventures empowers entrepreneurs to scale their operations and realise their vision.

ADGM (Abu Dhabi Global Market):
ADGM (Abu Dhabi Global Market) is an internationally acclaimed financial hub, situated on Al Maryah and Al Reem Islands, spanning 14.38 million sqm. Since its launch in 2015, ADGM has become a key destination for diverse businesses, offering services like company registration, regulatory guidance, and dispute resolution. Known for its progressive regulatory frameworks and English common law system, ADGM focuses on fostering innovation and collaboration to support Abu Dhabi's economic diversification and future vision

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