Everything Ishpreet Gandhi said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Most Indian startups will struggle to raise equity at their previous valuations
“Most of them would struggle right now to raise a round in spite of the fact doing revenues, right? Especially those valuations, what they would have done previously.”
Gandhi: India's venture debt ecosystem is heavily underpenetrated versus the West
“Now, actually, if you see broadly Siddharth, the ecosystem in India for venture debt, it's very underpenetrated. If you see in the West, it's a very, very mature market. There's a significant venture debt to venture equity presence. Whereas in India, it's stil…”
Gandhi: All Stride portfolio companies were funded between equity rounds
“Rather, we are proud to say that all the companies which are funded till now from the fund are in between an equity round with the company required more support. So it's not on the top of the equity round.”
Reliance Jio's massive equity valuation was enabled by prior debt financing
“The reason why they've been able to raise equity right now is because debt supported them at the at the requirements, right? In the case of need debt was there. That's how you reach a scale. And that debt has made Jio in terms of a particular scale. And now Ji…”
Startups sitting on 200 crore INR in cash should avoid taking debt
“Actually, a company sitting with 200 crores would not take a debt. They should not take a debt, as per me as well.”
Gandhi: Corporates take 90 to 180 days to settle startup receivables
“Normally also if you see corporates, they take time to give receivables to startups. It's anywhere from 90 days to one 21 51 80 days, and they end up waiting for those receivables.”
Gandhi: Stride Ventures takes board seats in most portfolio deals
“Yes. Most cases we have it.”
Gandhi: Stride Ventures requires institutional backing before providing debt
“We do look at an institutional investor to be on board for us to fund.”
Gandhi: Stride Ventures typically structures debt across 12 to 18 months
“So our structure of stride is 12 to 18 months of debt, right, typically.”
Gandhi: Stride's bank co-lending lowers blended interest rates to sub-12%
“We've got a bank co-lending with us at an combined interest rate cost of around sub-twelve. So our naturally financing is mid-teens while, while banks are lower end of the spectrum.”
Stride Ventures targets 20% to 22% IRR through mid-teen interest rates
“We place our loans at mid teens. We have a warrant component for all the synergies. We bring it into the ecosystem. That's traditionally anywhere from 15 to 20% of the debt amount, which is typically at the last round valuations or closer, if a company is rais…”
Gandhi: Western venture debt accounts for 10% to 12% of startup funding
“If you look at West it's a, It has, like, 10 to 12% of the market cap to venture debt in terms of funding a lot of companies.”
Gandhi: Venture debt warrant duration is capped at fund life
“Life of the fund, Siddharth maximum. This is what you can take warrant for. So yeah, if you have a six year fund life, you'll take the warrant for six years.”