Cedar-IBSi Capital Eyes to Back 10 to 15 Startups in BFSI Sector The fund primarily aims to target early-stage startups in the BFSI sector (banking, financial services, and insurance), investing in seed to Series A rounds.
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Cedar-IBSi Capital announced plans to invest in 10-15 startups within the banking and insurance technology space to strengthen its presence in India.
The fund, launched in 2023 with a corpus of INR 240 crore, claims to have already secured commitments ranging between INR 50-75 crore. It aims to allocate INR 4–10 crore per startup, prioritizing eight to ten high-performing ventures.
Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, emphasized the fund's focus on startups offering cutting-edge products to enhance operational efficiency in financial institutions. "The core infrastructure of banks and insurers remains outdated despite consumer-facing advancements in recent years. Our goal is to bridge this gap," he said.
Cedar-IBSi Capital has already made its first investment in Cogniquest AI, a company specialising in intelligent document processing technology, and plans to announce its next investment soon.
The fund primarily targets early-stage startups in the BFSI sector (banking, financial services, and insurance), investing in seed to Series A rounds. It seeks to support seasoned entrepreneurs developing enterprise fintech solutions tailored to modernise the sector.
Cedar-IBSi Capital's initiative aligns with the growing demand for innovative tech in the BFSI space, presenting significant opportunities for startups poised to address inefficiencies and modernize financial infrastructure.
