Beams Fintech Fund closes its maiden fund at Rs 270 Cr

Beams FinTech Fund (Beams), has completed the first close of its maiden fund on Tuesday. The funding round was closed within three months of its official launch.

The round saw participation from marquee domestic and international investors including banks, NBFCs and many more.

The firm has already received a promise of up to Rs 270 crores or $36 million for the fund and is in advanced stages of completing the documentation.

Beams was incorporated by Sagar Agarvwal, Anuj Golecha, Dr. Apoorva Ranjan Sharma, Anil Jain, Gaurav Jain, and Venture Catalysts.

Its maiden fund will provide support to growth stage companies operating at the intersection of the financial services and technology sector. The fresh funding is planned to be used to reach the target corpus of Rs 750 crores or $100 million within the upcoming 9 months.

The startup is in advanced discussions with several institutional investors (domestic and global) and family offices for its fund close and achieve its initial target of $100 million.

Beams says its team has narrowed down six major themes within the fintech space including embedded finance, products & technologies, enterprise SaaS, neo banks, and platforms catering to MSMEs.

Beams has already begun to invest in millennial-focused neo-bank, Niyo Solutions Inc last month. Accel and Lightrock India also got the funds.

EXECUTIVE OPINION:

Sagar Agarvwal, Co-Founder & Partner, Beams Fintech Fund, said, “In Beams, we are building a very unique platform that brings together experienced founders and institutions to help and cross-pollinate with our portfolio entrepreneurs on strategy, team building and growth”

“With a strong institutional investor interest in Beams, we hope to create more than $25-30 Bn in value for the Fintech ecosystem over the next couple of years,” said Sagar Agarvwal.

Tags : Beams Fintech,Beams Fintech news,Beams Fintech funding

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Beams Fintech Fund closes its maiden fund at Rs 270 Cr

Tags : Beams Fintech,Beams Fintech news,Beams Fintech funding

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