Visi Money
TLDR:
Key points in the article:
- Cedar Capital announces the first close of its Rs 240 crore Fintech Venture Capital fund.
- The fund will invest in 15 early-stage startups focusing on banking technology and B2B fintech startups.
In a recent development, Cedar Capital, a joint investment venture of Cedar Consulting and IBS Intelligence, announced the first close of its Rs 240 crore Fintech Venture Capital fund. The fund, with an initial cheque size ranging from Rs 4 to 10 crore, aims to invest in almost 15 early-stage startups, with a primary focus on banking technology and business-to-business (B2B) fintech startups. The fund has attracted leading family offices and institutional investors from India and the Middle East as limited partners.
The focus of the fund will be on backing seasoned entrepreneurs building solutions in the area of BankTech and Enterprise fintechs solving issues within banks, insurance companies, NBFCs, and other financial services players. The advisory board of Cedar Capital includes industry veterans like Sanjiv Anand, Pradip Shah, and Felipe Martinez, among others. This announcement comes at a time when the banking and fintech ecosystem in India is experiencing regulatory changes and increased scrutiny, making the need for innovative solutions more critical.
In March 2023, Cedar Capital had initially launched its fintech-focused venture capital fund, targeting markets like India, the Gulf Cooperation Council (GCC), and other regions. The fund is led by Sahil Anand and Subit Saurav from impact investment firm Aavishkar Capital, with Sunny Desa overseeing investor relations and fintech investments. The fund aims to support startups driving innovation in the fintech space and creating value for the broader financial services industry.
