Riyadh – Sharikat Mubasher: Venture debt firm Stride Ventures entered the Saudi market with plans to deploy $200 million over the next two years, marking its first investment push in the Kingdom as demand for alternative financing grows, as reported by Bloomberg.
The New Delhi-based company launched its Saudi strategy by leading a $33 million funding round for Riyadh-based fintech Erad, which provides financing to small and medium-sized enterprises.
Partner Fariha Javed said Stride intends to lend to Saudi companies across industries and sizes, while also preparing to recycle capital to support further Middle East deals, after recently closing its first Gulf-focused fund.
Stride has already extended more than $1 billion in credit across India, Southeast Asia, and the UK. It aims to invest $500 million in the Gulf region within four years, with an additional $50 million earmarked for the UAE. The expansion aligns with Saudi Arabia’s push to diversify funding sources and meet rising demand for private credit as the economy undergoes rapid transformation.
