Home / Companies / News /  Beams Fintech fund announce the closes its maiden fund at 270 crore

NEW DELHI: Beams Fintech Fund (Beams), a growth-stage fintech fund, on Tuesday said it has completed the first close of its maiden fund within three months of its official launch. The firm has received commitments of up to 270 crore and is in advanced stages of completing the documentation.

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

The firm will back growth stage companies operating at the intersection of financial services and technology (fintech) sector. The fund aims to reach the target corpus of 750 crore, or $100 million, within the next nine months.

The first close saw participation from marquee domestic and international investors, including banks, non-banking financial companies (NBFCs), fintechs, large family offices, financial services' CXOs, and fintech founders.

Existing investors of Venture Catalysts & nine 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 subsequent closes to achieve the initial target corpus of 750 crore.

The Series B & C oriented fund will primarily invest in 10-12 companies from the fund and will maintain its fintech focused theme.

Beams follows a top-down and bottoms-up approach towards investing. The team has narrowed down six themes within the fintech space including embedded finance, products and technologies, enterprise SAAS, neo banks and platforms catering to MSMEs.

Beams has already begun its innings by investing in millennial-focused neo-bank, Niyo Solutions Inc last month, alongside Accel and Lightrock India.

Anuj Golecha, co-founder and partner, Beams Fintech Fund, said, “It’s remarkable for us to achieve a first close for Beams in just a few months after the official launch. This success in fund raising has come on the back of the track record & the team that we have built for Beams. We are building a strong operating team with a deep experience in the Fintech space for the execution of this Growth Stage investing strategy and founders are appreciating the same."

Beams has onboarded Naveen Surya as a founding team member. The fund has also on-boarded several marquee partners, founders, mentors and advisors, including Deepak Ahuja, Dharmesh Gathani, Ronil Sujan, Rakesh Surana, Suumit Shah, Nakul Beri, Sunil Kulkarni to add value to the portfolio companies.

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