These investors include veterans from the fintech domain, family offices, financial institutions, professionals, and entrepreneurs including former CEOs and CXOs of banks.
Varanium NexGen Fund, one of India’s first fintech-focused venture capital fund announced its final close today at Rs.140 Crs. The fund invests in early-stage fintech start-ups in India.
The fund has been able to attract top-tier Indian investors as LPs. These investors include veterans from the fintech domain, family offices, financial institutions, professionals, and entrepreneurs including former CEOs and CXOs of banks.
Of the envisaged 14-18 start-ups investments, the fund has already invested in 5 start-ups and had made commitments to 3 more start-ups. It’s present investments include Homecapital (tech platform providing financial solutions to homebuyers through down payment, mortgage finance and other lifecycle finance), Riskcovry (Offering insurance in a box solution), Easebuzz (online payment aggregator with value-added services), TartanHQ (democratizing income and employment data verification through a single gateway) and Dronapay (fraud risk monitoring, prevention and detection in real-time on India stack – UPI, IMPS, etc and BNPL space).
The Fund Manager, Aparajit Bhandarkar, was an early investor/ board member in start-ups such as Bank Open, Trendlyne, Smartcoin. The Advisory board of Varanium includes Amrish Rau (CEO, Pinelabs), Pranav Pai (Founder, 3one4 Capital), Aashish Agarwal (CEO, Jefferies India). Jitendra Gupta (Founder, Jupiter Money) is an independent member of the funds investment Committee.
Source: Business World