New Delhi, Mar 19 (KNN) Cedar Capital, the fintech-focused venture capital arm of Cedar Management Consulting and IBS Intelligence, has successfully closed the first round of its Rs 240 crore FinTech Venture Capital fund.

This milestone marks a significant step in bolstering early-stage startups, particularly in the banking technology and business-to-business (B2B) fintech sectors, reported ET.

Spearheaded by Sahil Anand, founder, and managing partner of Cedar Capital, the fund is set to invest in nearly 15 early-stage startups, with a keen focus on revolutionising banking infrastructure and systems.

Anand emphasised the importance of upgrading outdated banking software, highlighting the immense potential within the B2B fintech space.

Amidst evolving regulatory frameworks, especially from the Reserve Bank of India, Cedar Capital remains committed to navigating these changes.

Anand noted that while the B2C segment faces stringent regulations, the B2B sector, catering to software sales to financial institutions, operates under relatively lighter burdens.

Leading family offices and institutional investors from India and the Middle East have shown strong confidence in Cedar Capital's vision.

Anand expressed gratitude for the participation of these limited partners, recognising their pivotal role in driving the fund's success.

With an initial cheque size ranging from Rs 4 to 10 crore, Cedar Capital aims to identify and nurture promising startups, with plans to further invest in 8 to 10 standout companies from its portfolio.

Cedar Capital's journey towards reshaping the fintech ecosystem began in March 2023, with the launch of its fintech-focused venture capital fund.

(KNN Bureau)