8i Ventures
Overview
8i Ventures is a venture capital firm based in Mumbai, India, specializing in early-stage investments predominantly in the fintech and consumer sectors. Founded in 2019 by Vikram Chachra and Vishwanath V, the firm has quickly established itself as a key player in the Indian startup ecosystem. It has backed over 50 startups, generating significant returns for its investors. With its second fund, Eight Innovate Fund II, 8i Ventures continues to focus on empowering startups through strategic investments and mentorship.
Recent Developments
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October 2024: 8i Ventures successfully exited its investment in M2P Fintech, yielding a 12x return. This exceptional performance highlights the firm’s strategic investment approach and its ability to spot high-potential ventures early. The exit marked a significant return on the company’s initial investment and underscored its commitment to investing in transformative fintech startups.
- The exit from M2P Fintech was part of its $100 million capital raise, positioning 8i Ventures for further strategic reinvestment opportunities.
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August 2024: TransBnk, a transaction banking platform backed by 8i Ventures, raised $4 million in Series A funding. This round was led by 8i Ventures in collaboration with Accion Venture Lab and other investors. The funds are aimed at expanding TransBnk's banking network and supporting its technological advancements and global expansion strategy.
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March 2024: The first edition of the Origami pre-seed funding initiative was launched by 8i Ventures, aiming to streamline funding processes for early-stage companies by providing answers within a week and ensuring deal closures in four weeks. This program saw investments totaling $600,000 across three promising startups. The second edition was announced in November 2024, reinforcing the firm’s commitment to fostering innovation through rapid funding cycles.
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November 2022: 8i Ventures marked the first close of its second fund at $25 million, with significant investments from family offices and a focus on fintech and e-commerce enablers.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Mumbai, India |
| Founders | Vikram Chachra, Vishwanath V |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Salgaocar and Kothari families |
| Industry | Venture Capital, Private Equity |
| Number of Employees | 2-10 |
Early History
8i Ventures was established by Vikram Chachra and Vishwanath V in 2019 with a vision to support early-stage companies in the burgeoning fintech and consumer segments in India. The firm began with a modest capital but quickly scaled its operations by leveraging the founders' rich experience and networks in venture capital. Their debut fund, leading investments in companies like M2P and Slice, laid the foundation for aggressive growth and set the tone for its investment philosophy of backing transformative startups.
Company Profile and Achievements
8i Ventures operates with a clear investment strategy focusing on fintech innovations and consumer market leaders. The firm’s first fund, totaling $15.5 million, demonstrated an exceptional performance by delivering substantial returns. This fund supported various startups at seed stages, nurturing them into significant players in their respective markets.
- Key Achievements:
- M2P Fintech: Successful full exit with a 12x return.
- Origami Program: Established to fast-track funding, reflecting the firm’s innovative approach to investing.
- Portfolio Growth: Backing over 50 startups, creating over $5 billion in shareholder value.
Current Operations and Market Position
8i Ventures continues to expand its footprint in the Indian venture capital space, especially in fintech innovations. With significant stakes in emerging startups like Easebuzz and Blue Tokai, the firm maintains a cutting-edge portfolio. The launch of its second fund and the Origami program signifies its strategic commitment to evolving market demands and enhancing its investment impact. Strategically, 8i Ventures is poised to influence the startup ecosystem through proactive investments and entrepreneurial empowerment.
Conclusion
8i Ventures, with its robust investment strategies and visionary leadership, continues to make significant strides in the venture capital landscape. The firm’s keen focus on early-stage investments, particularly in fintech and consumer sectors, positions it to play a pivotal role in shaping the future of these industries. Through strategic investments and initiatives like the Origami program, 8i Ventures is set to harness its potential further, contributing to the growth and transformation of India’s startup ecosystem.