Cedar Capital closes first $30 million fintech fund.

March 19, 2024
1 min read



Cedar Capital, the fintech-focused venture capital arm of management consulting firm Cedar and fintech market intelligence platform IBS Intelligence, has successfully marked the first close of its INR 240 Cr ($30 Mn) FinTech Venture Capital fund. The fund aims to back around 15 early stage startups with an initial cheque size ranging from INR 4 to 10 Cr. The primary focus of the fund is on banking technology, B2B fintech, insurance companies, NBFCs, and other financial services. The fund follows a limited partner-general partner (LP-GP) model and has attracted interest from leading family offices and institutional investors from India and the Middle East. Sahil Anand, the founder and managing partner of Cedar Capital, expressed optimism despite the challenging venture capital environment. The fund plans to invest in 8 to 10 companies from its portfolio in the future, with the expectation to finalize its initial deal in the coming weeks. The announcement comes at a time when venture capital firms are establishing or concluding funds to support India’s startup ecosystem.

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