QED to invest $500 million in Indian fintech startups

Fintech-focused venture capital firm QED Investors intends to infuse $500 million into Indian startups soon, according to a statement made by the company. It seeks to bolster the Indian startup ecosystem by making strategic investments wherever startups are being seeded or expanded.

According to Sandeep Patil, Partner & Asia Head, QED, India is a growth hotspot and by the second half for this year, QED expects the liquidity momentum to spring back. “We don’t wish to slow down our investment pace in India. Our investments will be nearly $500 million over the next three years,” said Patil.

QED opened its office in India last year and invested $150 million in regional start-ups. Some of its beneficiaries are FPL Technologies, Jupiter, Upswing, and Refyne, to name a few.

QED clocked $1.05 billion funding last year including a $550 million Fund VII and a $500 million Growth Fund. QED Investors has raised $1.4 billion through five funds to date. Its QED Fund VII was disclosed in September 2021 and $1.1 billion was raised. Several global cryptocurrency start-ups benefitted from capital funding from this VC last year.

QED recently invested in Bengaluru-based Mudrex, a crypto startup that focuses on automated smart crypto investments. Mudrex will use the funds to drive customer acquisition, licensing, and expansion in India, the United States, Europe, and Latin America. QED joined the Pre-Series (A) Mudrex, Arkam Ventures, and Tribe Capital round.

QED also funded an open finance B2B ecosystem enabler, Upswing Financial Technologies. Through the capital infusion, Upswing enables fintech and consumer tech firms to provide financial services seamlessly. Additionally, the VC backed a multitude of unicorns, like Credit Karma, Nubank, and SoFi.

Earlier, QED led the investment round for Pune-based fintech firm OneCard. QED led the investment round with Rs 207.25 crore. Other investors in the round were Ocean View Investment, INVOPPS FT21 LLC, and Sequoia Capital.

The US-based VC engages in several funding rounds, spanning from Pre-Seed to Series B and beyond. It has an investment capacity of $1 million to $50 million.