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March 18, 2024
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Cedar Capital’s Rs 240 crore Fintech VC fund first close

TLDR: Cedar Capital announces first close of Rs 240 crore Fintech VC fund

Key Points:

  • Cedar Capital’s Fintech VC fund targets BankTech and Enterprise fintechs.
  • The fund has raised Rs 240 crore with an initial cheque size ranging from Rs 4 to 10 crore.

Cedar Capital, a joint venture of Cedar Consulting and IBS Intelligence, has announced the first close of its Rs 240 crore Fintech Venture Capital fund. The fund will focus on investing in 15 early-stage startups, primarily in the banking technology and B2B fintech sectors. The limited partners include leading family offices and institutional investors from India and the Middle East. The fund aims to support seasoned entrepreneurs developing solutions for banking, insurance, and other financial services players. Key industry veterans are part of the advisory board, including Sanjiv Anand, Pradip Shah, Bobby Parikh, and Felipe Martinez.

In March 2023, Cedar Capital introduced its fintech-focused venture capital fund targeting markets like India, GCC, and others. The fund is led by Sahil Anand, Subit Saurav, and Sunny Desa, with a focus on BankTech and Enterprise fintechs. The fund comes at a time when the banking and fintech ecosystem in India is undergoing regulatory changes, including increased oversight on credit card operations and consumer credit risk weight adjustments from the RBI.

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