Beams Fintech Fund, a fintech focussed growth stage fund will complete the calendar year 2022 on a high having its portfolio companies raised more than USD 150 million at a combined valuation of over USD 1 billion.

Beams Fintech Fund achieved its first close in March 2022 at USD 36 million corpus and made two investments during the year. Beams has now crossed more than 50 per cent of its target corpus raise of USD 120 million and is in the advanced stages of making three more investments.

Founded by Fintech veteran Sagar Agarwal and Navin Surya and Founders of Venture Catalysts - Anuj Golecha, Apoorva Ranjan Sharma, Anil Jain and Gaurav Jain, Beams primarily invests in Series B and C rounds of Companies operating at the intersection of financial services and technology.

In a year when most Fintech companies struggled to raise capital, both of Beams portfolio companies saw newer rounds from marquee investors. Multiples Private Equity invested in Niyo while Beams invested alongside Google and Tiger in Progcap.

“2022 has been an eventful year at Beams. As a relatively new platform in the ecosystem and creating a category focussed fund can be interesting at times, especially in a year that was marked by high inflation, geopolitical tensions and a cool-off of the tech ecosystem. However, we have been very fortunate to have such high-quality investors support us. We have achieved more than what we had set out to at the start of the year and are proud to be regarded as India’s first Growth Stage focussed Fintech Fund” said Sagar Agarvwal, Co-founder and Managing Partner, Beam Fintech Fund

“CY ’23 looks even more promising and positive for us as markets have corrected significantly both in the private and the public space giving us an opportunity to invest with high-quality teams and businesses at more attractive prices and our existing portfolio companies are already performing phenomenally well. We expect to close the fund out at a target raise and deploy more than USD 60-70 million in CY ’23. We follow a thesis-driven approach towards investments and have narrowed down on the following themes for CY ‘23: embedded finance/managed marketplaces, SaaS platforms for banks/FIs, SaaS platforms for enterprises, global enterprises SaaS, open banking and digital financial inclusion” said Navin Surya, Co-founder & Operating Partner, Beam Fintech Fund