Venture debt firm Stride Ventures has made its first foray into Saudi Arabia and plans to deploy $200 million there in the next two years to capitalize on the kingdom’s push for new sources of financing.
Stride, which has already extended more than $1 billion in credit across India, Southeast Asia and the UK, recently led a funding round into Saudi financial technology firm Erad. The deal marks Stride’s first fintech investment in the Middle East and kicks off its investment push in Saudi Arabia, according to Fariha Javed , a partner.