Fintech investor Cedar-IBSi Capital secures commitments worth Rs 100 Cr for maiden fund
The fund has also seen soft commitments worth Rs 10 crore to Rs 15 crore.
Fintech focused investment firm Cedar-IBSi Capital has secured commitments worth about Rs 100 crore, along with additional soft commitments worth Rs 10 crore to Rs 15 crore, as it looks to close its debut fund in the coming months.
The firm, which is focused on business-to-business (B2B) financial infrastructure companies, has secured backing from institutional investors including Muthoot Finance and IIFL Capital. It has also attracted participation from over 20 family offices, including an undisclosed Middle East royal family entity and Dr Reddy’s family office.
According to the company, the strong interest from marquee investors is due to its specialist expertise in the fintech segment and its deep ecosystem access through the wider Cedar platform.
The firm’s maiden fund is looking to invest in pre-Series A and Series A rounds with initial investment cheques ranging between $500,000 and $1 million. Cedar-IBSi Capital will also reserve a portion of the fund for follow-on investments.
The Mumbai-based firm is looking to build a portfolio of 10-15 companies over the life of the fund, with initial checks expected to be deployed by the fifth year of the fund’s life cycle.
“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-1 LP capital in India and internationally,” said Sahil Anand, Founder & Managing Partner, Cedar-IBSi Capital.
The fund comes at a time when India is seeing a growing demand for new-age banking and financial infrastructure technology—a factor the firm aims to capitalise on.