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Beams Fintech Fund, India’s first dedicated Growth Capital Fintech Fund, is looking to expand globally and believes that the UAE is well-positioned to become an international hub and silk road to the rest of the Gulf, North and East Africa.
As one of India’s largest trading partners, remittance partners and foreign direct investment investors, the UAE is well positioned to provide the necessary capital and infrastructure to support fintech companies outside of India.
Shuaa Capital, Mubadala, ADQ, ADIA, ADIC, Etisalat, Emaar, Banks and others have been active in India for some time and can partner with Beams and its portfolio companies to create a bigger and stronger fintech economy between the two countries, Will foster further innovation and development.
appropriate time
Given the favorable demographic factors, the RBI, the favorable regulatory framework facilitated by CEPA and the historical relationship between the two countries, now is an opportune time for institutions and investors in the region looking to build fintech portfolios to diversify geographically by evaluating emerging markets Opportunities come from India.
India is the third largest fintech market in the world after the US and China in terms of the number of startups and capital investments, as well as the number of unicorns. In 2021, 18 out of 43 unicorns in India became fintech unicorns – BharatPe, Digit, Cred, Meesho, Groww, Five Star Finance, Zeta, Chargebee. One-third of India’s unicorns are in fintech.
With a target size of $120M, with a greenshoe option, Beams’ strategy is to invest $15-20M in growth-stage, B and C rounds of fintech companies led by quality founders. Beams invests following a very strong co-investment approach and is active in co-investment opportunities for its limited partners.
Concentrated Portfolio
Beams plans to build a concentrated portfolio of a dozen fintech companies in a market currently worth over $80 billion that could reach $25+ billion by 2030.
Beams was launched by Venture Catalysts, India’s first and largest comprehensive incubator, which also has 9 unicorns, an early-stage agnostic accelerator fund worth $120 million.
Beams was co-founded by fintech veteran Sagar Agarvwal and founders of Venture Catalysts – Dr. Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain. In the Middle East, Sehteq’s Senior Vice President and Chief Revenue Officer Deepak Ahuja was hired as a founding member and fintech expert partner.
deep experience
Asuman Dayican Abdullatif also joined the platform as a venture partner. Sudhanshu Garg will serve as institutional advisor for the region.
Beams’ founding team has over 20 years of experience investing in and building more than 300 companies, including BharatPe, Dukaan, Flobiz, Esskay, Impact Guru, Suryoday, Centrum, OTO Capital, Klub, GetVantage, LenDenClub, LiquiLoans, and Junio.
Beams has already started investing from its fund and has invested in Niyo, India’s leading digital banking platform, along with Accel and Lightrock. Beams also completed a second investment in supply chain finance alongside Tiger Global, Google, Sequoia and Creations.
founder first
Using a founder-first approach and focused strategy, Beams provides founders with the capital and ecosystem support to build large, successful fintech companies. It will provide a network of local and international banks, insurance companies, NBFCs, fintech companies, mentors and advisors to not only access funding at affordable rates but also expedite the listing of its portfolio companies in India and the Middle East strategy.
With over 2.6 million members and a 30% population share, Indians make up the largest expatriate community in the UAE, making them a natural entry point for Beams portfolio companies. Middle Eastern banks, NBFCs, and big tech founders can become part of the Beams ecosystem to support the Middle Eastern fintech ecosystem.
Sagar Agarvwal, co-founder and partner at Beams, highlighted the opportunity in fintech, saying: “Fintech is consuming a bigger and bigger piece of the software pie. We are now in fintech 3.0 globally, with the first wave of lending and Payments companies have received significant funding and capital is now flowing across sectors. Seasoned professionals and high-quality founders are moving from larger companies into new categories to address long-tail financial services needs globally.
Anuj Golecha, Co-Founder and Partner, Beams said, “The fintech opportunity in India is huge as it is the only tech sector in India that has generated over $80 billion in value and $8 billion in M&A in India. Our return at BharatPe is proof Opportunities in Indian fintech space. We have achieved 90x return from BharatPe exit, became a unicorn last year and are creating more unicorns in this space. We have one of the best fintech investment teams in India One, has an excellent performance track record.”
“The Middle East, especially the UAE, plays an important role in India’s tech ecosystem. Middle Eastern investors are not only actively investing in India, they are also supporting our companies’ expansion into the Middle East. ADGM and ADIO have come up with special incentives to encourage Indian companies to enter the Middle East, We are excited to help build a fintech ecosystem in the region,” said Deepak Ahuja, Beams Fintech Expert Partner.
technology adoption
With the proliferation of technology and the growing interest of UAE banks and financial institutions in seeking to collaborate with fintech companies on technology, product development and partnerships, it would be an opportune time to bring in models from India. Not only can Indian fintechs provide technology partnerships, but they can also achieve greater results in the region by acquiring domestic fintechs.
They can collaborate by building larger regional platforms, creating cost synergies, etc. — trade arab news agency
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