Fintech focused venture fund Cedar-IBSi Capital secures funding from Hades Group
Cedar-IBSi Capital has secured funding from Middle East-based asset management firm Hades Financial Private Capital Group (HFPCG), the venture fund said in a release today.
This is the second major institutional investor to get involved in this fund set up by management consultancy firm Cedar and fintech market intelligence platform IBS Intelligence.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitThe firm had announced the first close of its fund at $30 million in March this year.
HFPCG has made a sizable commitment to Cedar-IBSi Capital’s FinTech-focused vehicle, with the aim of making the fund its primary source of fintech exposure, the company said. It did not disclose the actual size of the investment.
“We are excited to welcome a respectable institutional investor such as Hades to the Cedar-IBSi Capital investor base and look forward to executing our common goal in unlocking the Indian B2B Fintech and bank tech journey,” said Sahil Anand, founder and managing partner, Cedar-IBSi Capital.
“We also take pride in the India-GCC (Gulf Cooperation Council) fintech corridor that we have facilitated over the years and see multiple synergies with Hades in this,” he added.
With an initial cheque size of Rs 4 to 10 crore ($500,000 to a million dollars), Cedar-IBSi Capital will seek to
