TLDR:
- Cedar Capital, a FinTech-focused Venture Capital fund, has marked the First Close of its debut fund at Rs 240 crore ($30 million).
- The fund will focus on BankTech and B2B FinTech business models targeting the core technology stacks of Banks, Insurers, NBFCs, and other financial services players.
Cedar Capital, led by Sahil Anand, has successfully closed the first round of fundraising for its early-stage FinTech-focused fund at Rs 240 crore ($30 million). The fund, structured as a classic LP-GP model, has gathered commitments in the range of Rs 50-75 crores ($6-9 million) from leading family offices and institutional investors in India and the Middle East. The fund, which aims to invest in 15 BankTech-focused startups in their Seed-Series A rounds, will prioritize backing seasoned entrepreneurs building solutions and technology in the BankTech and B2B FinTech space.
The fund leverages Cedar-IBSi’s global consulting teams, an in-house FinTech Lab, proprietary intelligence and research, and a deep understanding of CTO and technology buyer mindsets. An advisory board consisting of industry stalwarts will oversee governance and fund strategy. Cedar Capital’s unique competitive edge lies in offering more than just capital to portfolio companies, providing access to a wide network and expertise.
Cedar Capital’s focus on BankTech and FinTech is a natural progression of its 60+ years of experience in management consulting for global CTOs and Banks via Cedar, market intelligence and advisory for leading BankTechs and FinTechs via IBS Intelligence, and ecosystem development through the Cedar-IBSi FinTech Lab. The fund aims to be viewed as a venture capital investor with an operator mindset, offering tangible value beyond capital to help portfolio companies grow.
