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The Beams Fintech Fund, India’s first dedicated growth capital fintech fund, looks to expand globally and sees the UAE as 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 placed to provide the necessary capital and infrastructure to support fintech companies outside India.
Institutions such as Shuaa Capital, Mubadala, ADQ, ADIA, ADIC, Etisalat, Emaar, Banks and others have been active in India for some time and can work with Beams and its portfolio companies to create a larger and stronger fintech economy between the two countries. Innovation and development will be further promoted.
appropriate time
Given favorable demographic factors, the favorable regulatory framework driven by the RBI, CEPA and the historical relationship between the two countries, now is the right time for institutions and investors in the region looking to diversify geographically by evaluating new fintech portfolios Opportunity from India.
India is the third largest fintech market in the world after the US and China, in terms of the number of start-ups and capital investment and the number of unicorns. In 2021, 18 of India’s 43 unicorns have turned fintech unicorns into unicorns – BharatPe, Digit, Cred, Meesho, Groww, Five Star Finance, Zeta, Chargebee . One-third of India’s unicorns are in the fintech sector.
With a target size of $120 million and a greenshoe option, Beams’ strategy is to invest $15 million to $20 million in growth-stage, Series B, and Series C financings for fintech companies led by high-quality founders. Beams invests with a very strong co-investment approach and actively offers co-investment opportunities to its LPs.
Concentrated Portfolio
Beams plans to build a concentrated portfolio of more than a dozen fintech companies in a market currently worth more than $80 billion, which could reach more than $25 billion by 2030.
Beams was launched by Venture Catalysts, India’s first and largest integrated incubator that also hosts 9 unicorns, a $120 million industry-agnostic early stage accelerator fund.
Beams was founded by fintech veteran Sagar Agarvwal and Venture Catalysts founders – Dr. Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain, Gaurav Jain. In the Middle East, Sehteq’s Senior Vice President and Chief Revenue Officer Deepak Ahuja has been appointed as a founding member and FinTech expert partner.
In-depth experience
Asuman Dayican Abdullatif has also joined the platform as a venture partner. Sudhanshu Garg will serve as institutional advisor for the region.
The founding team of Beams 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 started investing from its fund and has invested in Niyo, India’s leading digital banking platform, along with Accel and Lightrock. Beams also closed its second investment in supply chain finance with 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 capital at affordable prices, but also to accelerate 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 constitute the largest expat community in the UAE and 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 East FinTech ecosystem.
Sagar Agarvwal, co-founder and partner at Beams, highlighted the opportunities in fintech, saying: “Fintech is consuming an ever-larger piece of the software pie. We are now in the era of Fintech 3.0 globally, the first wave of lending And “payments companies have received a lot of money, and now money is moving across sectors. Seasoned professionals and high-quality founders are moving from large corporations to new categories to address global long-tail financial services needs. “
Anuj Golecha, co-founder and partner at 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 transactions in India. Our return in BharatPe is Prove the opportunity in Indian fintech space. Our exit from BharatPe, which became a unicorn last year, gave investors a 90x return and created more unicorns in this space. We have the best fintech in India One of the investment teams with an excellent 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, but are supporting our companies’ expansion into the Middle East. ADGM and ADIO have proposed special incentives to encourage Indian companies to enter the Middle East , we are excited to help build the fintech ecosystem in the region,” said Deepak Ahuja, Partner, Beams Fintech Specialist.
technology adoption
With the proliferation of technology and the growing interest of UAE banks and financial institutions in technology, product creation and partnerships with fintechs, this would be an opportune time to bring in models from India. Indian fintech companies can not only provide technology partnerships, but also build greater outcomes in the region by acquiring domestic fintech companies.
They can collaborate by building larger regional platforms, building cost synergies, etc. — arab trade news agency
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