First close of Venture Catalysts-backed Beams Fintech Fund at Rs 270 cr

Beams has a target corpus of $100 million; will primarily back fast-growing fintech firms in their Series B & C rounds

Venture Catalysts-backed Beams Fintech Fund has announced the first close of its growth capital fund for fintech companies at Rs 270 crore ($36 million).

Beams will back growth stage companies operating at the intersection of financial services and technology sectors. It aims to reach the target corpus of $100 million within the next nine months.

The first close saw participation from marquee domestic and International investors including banks, NBFCs, fintechs, family offices and CXOs of financial services companies.Existing investors of Venture Catalysts & 9 Unicorns (first fund from Venture Catalysts) also backed Beams in its first close.

The fund has