Connect with us

Events & Happenings

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



 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.



Sports4 weeks ago

Continental Racing: Emirati Team Clinches Victory in GT4 Class at the Hankook 24H Dubai

In a weekend filled with high-octane excitement, the celebrated Hankook 24H Dubai race returned to the famed Dubai Autodrome, continuing...

Art & Culture4 weeks ago

du achieves the Best Culture & Employee Engagement in the Region with 81% Rating in Glint’s Index

du, from Emirates Integrated Telecommunications Company (EITC), today announced results of the Culture & Employee Engagement Index survey conducted through...

Food & Beverages4 weeks ago

Dinner on the Beach: A Culinary Journey with French Flair at Drift Beach Dubai

This Valentine’s Day, DRIFT introduces a captivating experience – Dinner on the Beach. For the first time at DRIFT, relish...

Travel & Tourism4 weeks ago

Readers are rewarded at emirates airline festivals of literature

Emirates Airline Festival of Literature kicked off the first day of their 2024 edition with a ceremony to honour the...

Events & Happenings1 month ago

Abu Dhabi Festival 2024 Honors Giacomo Puccini’s Legacy With Spectacular Gala Concert

In the presence of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah,...

Healthcare1 month ago

Emirates Health Services concludes its successful participation in Arab Health 2024

Emirates Health Services, the exclusive partner in healthcare services, successfully concluded its participation in Arab Health 2024, which concluded on...

Automotive1 month ago

Ride in Style: Don’t Miss Out on Arabian Automobiles’ Renault Duster Offers

Renault of Arabian Automobiles, the exclusive Renault dealership serving Dubai, Sharjah, and the Northern Emirates, and a flagship company within...

Information & Technology1 month ago

Emirates Post Group Unveils New Brand Identity ‘7X’ for Future

Emirates Post Group Company (EPG) has unveiled its new brand identity – 7X – during an exclusive event at Madinat...

Health & Fitness1 month ago

Emirates Health Services “Basma” Project Addresses Healthcare Requirements in 313 Schools

Dr. Shamsa Majid Lootah, Director of the Public Health Department at Emirates Health Services (EHS), announced the launch of the...

Health & Fitness1 month ago

MoHAP hosts panel discussion on Nursing future at Arab Health 2024

"Nursing… Ambitious Future Insights"

News1 month ago

‘Vilal Housing’ to deliver 50 Residential Villas by 2024 to its Clients in the UAE

The nation-wide company constructs homes exclusively for UAE citizens across 7 emirates

News1 month ago

Statement by Ahmad bin Meshar Al Muhairi, Secretary General of SLC

on the Anniversary of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum’s accession as the Crown Prince of...

Automotive1 month ago

Audi Middle East and Museum of the Future enter 3rd year of partnership, with the showcase of the revolutionary activesphere concept

Audi Middle East and Museum of the Future have announced the arrival of the revolutionary activesphere concept car, marking a...

News1 month ago

Watani Al Emarat signs MoU with Emirates Society for Parent Care and Relief

To strengthen collaboration in organizing and supporting the senior citizen community

News1 month ago

Global Village announces second Geely Raffle Draw for a chance to win a Flagship Geely Tugella

Raffle participation will run until March 7th, and winner will be announced at Global Village on March 8, 2024 from...