We are discussing Fintech-Based VC Fund Cedar-IBSi Capital Raised Funds From Hades Group and Reported its First Close at $30 Million:
Cedar-IBSi Capital, a fintech-focused VC fund firm, announced its first close at $30 million. The firm raised funding from Asset management company Hades Financial Private Capital Group. The funding round was held under the management consultancy company Cedar and the fintech market intelligence platform IBS Intelligence. The first close of 30 million USD was announced in March this year.
Hades Group previously made a deal with the VC fund firm to make the fund its primary source of fintech exposure. The total investment made by this firm has not yet been disclosed. The founder and managing director of Cedar-IBSi Capital, Sahil Anand, showed his gratitude to the institutional investor. He said he looks forward to this partnership, focusing on achieving the common goal and revolutionizing the Indian B2B Fintech and bank tech sector. HFPCG is the second major institutional investor to participate in this funding round. Cedar is a global strategy consulting, research, and analytics company with clients across multiple countries.
Cedar-IBSi Capital plans to invest $500,000 to $1 million in more than 15 early-stage tech-based banking startups and enterprises. The CEO of Hades Group, Mohammed Abrar Asif, highlighted that this investment aligns with Cedar’s strategy and goal to fund early-stage startups that use traditional financial services while introducing fintech and transformative solutions in the market. The firm aims to help SMEs expand their network, profit, revenue, and operations.
The Venture Capital firm mentioned that they will mainly focus on funding only those promising startups developing technology and solutions for banking technology and other financial services companies. Hurun India’s report showed that India will have the most unicorns from the fintech sector in the future. The fintech startups raised an investment of $5.7 billion this year and are predicted to account for 20 percent of the total value of future unicorns at $11.4 billion.
Conclusion
A fintech-focused Venture Capital firm, Cedar IBSi Capital, raised a disclosed amount of funding from its second major institutional investor, Hades Groups. The company announced its first close at $30 million. The Asset Management company Hades Financial Private Capital Group was one of the biggest investors in this round. The funding round was held under the management consultancy company Cedar and the fintech market intelligence platform IBS Intelligence. This partnership focuses on achieving the common goal and revolutionizing the Indian B2B Fintech and bank tech sector.
Cedar IBSi Capital plans to invest $500,000 to $1 million in more than 15 early-stage tech-based banking startups and enterprises. The investment by Hades Financial Private Capital Group aligns with Cedar’s strategy and goal to fund early-stage startups that use traditional financial services while introducing fintech and transformative solutions in the market. The firm aims to help small, medium, and micro startups to expand their network, profit, revenue, and operations. The Venture Capital firm announced it will mainly focus on funding only those promising startups developing technology and solutions for banking technology and other financial services companies.
