Beams FinTech Fund on Tuesday announced it has received commitments of up to Rs 270 crores or $36 million for the its maiden fund within three months of its launch and is in advanced stages of completing the documentation.
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.
Beams founded by Sagar Agarvwal, Dr. Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain, Gaurav Jain, and Venture Catalysts has already received commitments of up to Rs 270 crores or $36 million for the fund and is in advanced stages of completing the documentation.
Beams Targets a Corpus of $100M in the next Nine Months
Existing investors of Venture Catalysts and 9 Unicorns (first fund from Venture Catalysts) also backed Beams in its first close. The fund is now in advanced discussions with several domestic and global institutional investors and family offices for its subsequent closes and achieve its initial target corpus of Rs 750 crores or $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.
The round saw participation from marquee domestic and international investors including banks, NBFCs, fintech’s, large family offices, financial service ‘s CXOs and fintech founders, according to a statement.
