Yes Bank invests in Venture Catalysts Group Funds (Venture Catalysts), an integrated incubator that provides startup founders with funding, mentorship, and a network from the idea inception stage to the growth stages of the startup journey. With this investment, the bank hopes to advance its mission of catering to India’s “Future Tech Businesses,” boost innovation in the technology space, including the financial sector, and potentially partner with leading tech startups in which Venture Catalysts has invested.
In addition, the new funds supported two platforms: Beams Fintech Fund, which invests in growth stage companies at the intersection of Financial Services and Technology, and 9 Unicorns Acc.
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 to becoming the go-to bank for technology startups. India is at the cusp of a massive growth and the collaboration between banks and tech companies – especially with fintechs – will play a critical role in this journey.”
Furthermore, the collaboration is consistent with Yes Bank’s long-term growth strategy of investing to strengthen its position in India’s growing tech markets.
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 an indicator 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.
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