The fund, with an preliminary cheque measurement starting from Rs 4 to 10 crore, would put money into nearly 15 early-stage startups, with a major concentrate on banking expertise and business-to-business (B2B) fintech startups.
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Main household places of work and institutional buyers from India and the Center East are among the many restricted companions taking part on this spherical, the assertion added.
This improvement comes at a time when the banking and fintech ecosystem in India is dealing with elevated scrutiny and regulatory adjustments from the Reserve Financial institution of India, together with changes like elevating the danger weight on shopper credit score for banks and non-banking monetary firms (NBFCs), and heightened oversight on bank card operations.
“The fund will focus closely on backing seasoned entrepreneurs who’re constructing options and expertise within the space of BankTech; Enterprise fintechs which are fixing to be used instances and issues inside banks, insurance coverage firms, NBFCs and different monetary companies gamers,” the corporate stated in a press release.
In March 2023, Cedar Capital introduced the launch of its fintech-focused enterprise capital fund, concentrating on geographies like India, Gulf Cooperation Council (GCC), and different markets. It appointed Subit Saurav from impression funding agency Aavishkar Capital to co-lead investments with the founder Sahil Anand and Sunny Desa from YES Financial institution to supervise investor relations and fintech investments.
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The advisory board of Cedar Capital consists of trade veterans resembling Sanjiv Anand, chairman of Cedar Group, Pradip Shah, founding father of CRISIL and HDFC, Bobby Parikh, cofounder of BMR Advisors, Felipe Martinez, chief funding officer of Revolut, amongst others.
