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Cedar Capital seals first close of fintech venture capital fund

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TLDR: Cedar Capital has closed the first round of its $30 million fintech venture capital fund with a focus on BankTech startups. The fund has gathered commitments of $6-9 million and plans to invest in early-stage BankTech-focused startups in the Seed-Series A rounds.

Cedar Capital, led by Sahil Anand, has closed the first round of its $30 million early-stage fintech venture capital fund with a focus on BankTech startups. The fund has gathered commitments of $6-9 million from leading family offices and institutional investors in India and the Middle East. The fund plans to invest in ~15 early-stage BankTech-focused startups in their Seed-Series A rounds, with an initial cheque size of $500k-$1 million. They are focused on backing seasoned entrepreneurs who are building solutions and technology in the area of BankTech and aim to bring more than just capital to their portfolio companies through their unique competitive edge. Cedar Capital has also roped in Subit Saurav from Aavishkar Capital and Sunny Desa from YES Bank to co-lead investments and lead Investor Relations and FinTech investments respectively. The fund’s advisory board consists of industry stalwarts to oversee governance and fund strategy.

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