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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.

By Entrepreneur Staff

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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 "The core infrastructure of banks and insurers remains outdated despite consumer-facing advancements in recent years.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.

Entrepreneur Staff

Entrepreneur Staff

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