The Ledger
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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.”
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: 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.”
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'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.”
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.”
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…”