Cedar-IBSi Capital's Debut B2B Fintech Fund Receives Commitments worth INR 100 Cr The fund plans to build a portfolio of 10–15 companies over its lifecycle, investing primarily in Pre-A and A rounds with cheque sizes ranging from 500,000 to USD 1 million.
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Fintech-focused investment fund Cedar-IBSi Capital on Tuesday said that it has received commitments worth nearly INR 100 crore with additional soft commitments worth up to INR 15 crore from institutional investors and family offices. The fund, which is aimed at the B2B financial infrastructure companies, has a target corpus of INR 175 crore.
The fund is supported by institutional backers such as Muthoot Finance and IIFL Capital, and the family offices of Apar Industries, Varroc Engineering, the Taparia family, and Dr. Reddy's family office. Cedar added that it has also onboarded a royal family office from the Middle East but did not disclose more details
"We will mark our final close sometime in January. Despite a challenging fundraising environment for emerging managers globally, our sector-specialist expertise and sharp B2B FinTech focus have helped attract tier-I LP capital in India and internationally," said Sahil Anand, Founder and Managing Partner, Cedar-IBSi Capital.
The fund plans to build a portfolio of 10–15 companies over its lifecycle, investing primarily in Pre-A and A rounds with cheque sizes ranging from 500,000 to USD 1 million. It has already invested in Cogniquest, an intelligent document processing firm, and WonderLend Hubs, a cloud-based incentive compensation provider. A third investment is expected to be announced soon, with a strong pipeline of opportunities under evaluation, particularly in the artificial intelligence for financial services space.
"A lot has happened in B2C fintech in recent years, but CTOs and technology leaders at financial institutions are now ready for a similar transformation in banking infrastructure software," Anand added.
