Venture Catalyst has held the first close of the Beams Fintech Fund, its first growth-stage fund, with ISD36 million on commitments, according to a report by VCCircle.

The fund's strategy will be to invest in early-stage fintech firms.

The funds has attracted investment from a range of investors including a banks, NBFCs (non-banking financial companies), large family offices, financial service executives and fintech founders.