Yes Bank Announces Investments In Venture Catalysts Group Funds
With these investments, Yes Bank aims to further its mission of catering to the ‘Future Tech Businesses of India’, bolster innovation in the technology space, including the financial sector, and potentially partner with leading tech startups that Venture Catalysts has invested in—Beams Fintech Fund and 9 Unicorns Accelerator Fund
Yes Bank on Wednesday announced an investment with Venture Catalysts Group Funds (Venture Catalysts), an integrated incubator that provides funding, mentorship, and a network to startup founders.
With these investments, Yes Bank aims to further its mission of catering to the ‘Future Tech Businesses of India’, bolster innovation in the technology space, including the financial sector, and potentially partner with leading tech startups that Venture Catalysts has invested in—Beams Fintech Fund and 9 Unicorns Accelerator Fund.
Speaking on the occasion, Ajay Rajan, Country Head-Transaction Banking , Yes Bank said, "We are pleased to partner with Venture Catalysts and the allied platforms—Beams Fintech Fund and 9 Unicorns Accelerator Fund. We believe that this partnership is a step in the direction of becoming the go-to-bank for technology startups. India is at the cusp of massive growth, and the collaboration between banks and tech companies—especially with fintechs—will play a critical role in this journey."
This partnership aligns with Yes Bank's long-term growth strategy of strengthening its foothold in India’s growing tech markets by investing in the founders of tomorrow. Collaboration with and supporting tech companies to ideate and experiment on various use cases such as agriculture, healthcare, commerce, education, logistics, open banking, supply chain finance, payments, and digital banking, among others, has been a key driver of Yes Bank’s innovation strategy.
Mr. Naveen Surya, Co-founding member, Beams Fintech Fund , said, "This partnership is a great beginning for the tech ecosystem. Yes Bank has always been a visionary bank and a harbinger of innovation related to anything tech. We hope this will encourage other banks and fintechs in the market to partner with groups like Beams Fintech Fund and 9 Unicorns Accelerator Fund. We are aiming to create a large ecosystem consisting of banks, NBFCs, and fintech companies to support the tech ecosystem. We are looking forward to working with Yes Bank and bringing positive outcomes for all our portfolio companies and founders. "
Beams Fintech Fund (Beams), a CAT II AIF, was launched at the start of 2022 with a mission to build India’s largest fintech ecosystem. It will be actively investing in innovative technology companies at various growth stages in the fintech space in India, including in the Embedded Finance, SAAS for Banks & FIs, SAAS for Businesses, Global Enterprise SAAS, Personal Finance Management, and Neo Banking spaces. Beams intends to invest USD 200 million in 10–12 companies in series B and C rounds over the next three years.
9 Unicorns Accelerator Fund (9 Unicorns), a CAT I AIF, launched by the founding members of Venture Catalysts, is a sector-agnostic VC that aims to disrupt idea-stage investing in India. 9 Unicorns has already raised USD 100 million and is actively deploying from its maiden fund. It invests seed capital of USD 300K-USD 500K in the first round, with larger follow-on capital in fast-growing, deserving portfolio companies. Along with idea stage investing, the fund participates in a select few growth stage opportunities, generally Series C and beyond.
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