Indian Series D and beyond startups raked in more than half of the total venture debt funding in 2022, per a Traxcn report viewed by Mint.
VC firm Stride Ventures managing partner Ishpreet Singh Gandhi said, "Venture debt has become one of the key growth enablers for Indian startups."
52% of the total venture debt was secured by fintech startups.
- A total of $800M in venture debt was deployed in 2022, 2.6 times more than in 2019.
- The country's venture debt market, which is still in its infancy, is expected to grow further due to its rapidly growing startup ecosystem.
- Tracxn predicts that B2B startups will nab the majority of venture debt in 2023, followed by consumer and EV startups.
