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More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
Talking about his fund, LPs, investment strategy, Cedar Hill Capital's founder Sahil Anand said raising capital remains challenging.
The funding round also saw participation from Luthra Group and follow-on investments from existing investors SVL-SME Fund (managed by SBI Ventures Limited), Rainmatter Capital, and 8X Ventures Fund I.
The shares were acquired by a mix of domestic mutual funds, insurance firms and global institutional investors.
The stake sale attracted participation from several domestic and international institutional investors, with Axis Mutual Fund and Fidelity among the key buyers.
The Bengaluru-based startup will use the fresh capital to strengthen its underwriting, actuarial, catastrophe modelling, and AI capabilities.
The Bengaluru-based SaaS firm posted a net loss of Rs 9.6 crore during the quarter, compared to a net profit of Rs 0.7 crore in Q1 FY26.
The funding round also saw participation from other existing investors Peak XV Partners, RTP Global, and Z47.
The funding round was raised from VC firms Stellaris Venture Partners and 3one4 Capital, and a group of prominent angel investors including Swiggy CEO Sriharsha Majety.
The round also saw participation from Razorpay and Wyser Capital.
The funding round will also see participation from Glade Brook Capital, Gaja Capital, Indigo Ventures, and several angel investors and family offices.
The latest sale follows another transaction in June, when Peak XV divested 33.33 lakh shares of Go Digit for around Rs 100 crore.
The round also saw participation from Pentathlon Ventures, Silicon Road Ventures, and existing investor Titan Capital.
The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.
The startup will use the fresh capital for product development, AI and machine learning engineering, customer acquisition, go-to-market expansion, and working capital requirements.
The development comes after Scapia raised $63 million in a Series C funding round in May led by General Catalyst.
The company will use the fresh capital to expand its network of wealth creators, and enhance its AI-powered wealth management platform, among others.
The investment comes soon after Neo secured funding from TVS Capital earlier in March.
The funding round saw participation from SIG Tattva and Trifecta Capital.
The venture capital firm had raised Rs 600 crore for its second fund and was expecting to hit the first close of the third fund this year.
