Early-stage venture capital firm 8i Ventures, located in India, has finished the first closure of its second US $50 million fund.
Family offices like Salgaocars and Kothari (DSP), which also contributed to the initial fund, helped the venture capital company raise $25 million at its first closure.
The second fund from 8i Ventures will write checks totaling between US $1.5 million and US$2 million for each seed stage investment in e-commerce and B2B FinTech firms. The company anticipates that sum to increase to US $10 million per startup over successive stages.
Slice, M2P, and Blue Tokai are just a few of the South Asian firms in which 8i Ventures has made investments. The company was founded in 2019 by Vikram Chachra and Vishwanath V.
The business claimed that as a result of the aforementioned early-stage investments in companies, its first fund had increased by 270% over the course of three years, with an internal rate of return of 100%. According to 8i Ventures, 27% of the cash was returned to investors.