Jofie Yordan · · 1 min readIndia-based 8i Ventures hits first close of $50m second fund
8i Ventures, an India-based early-stage VC, has completed the first close of its US$50 million second fund.
The VC firm raised US$25 million at its first close, largely from family offices like Salgaocars and Kothari (DSP), which had also invested in the first fund.
(From left) 8i Ventures founders Vishwanath V and Vikram Chachra / Photo credit: 8i Ventures
8i Ventures’ second fund will invest in B2B fintech and ecommerce startups’ seed rounds with checks worth US$1.5 million to US$2 million to each. Across subsequent rounds, the firm expects that amount could go up to US$10 million per startup.
Founded in 2019 by Vikram Chachra and Vishwanath V, 8i Ventures has invested in several startups in the South Asian country, including Slice, M2P, and Blue Tokai.
See also: These are the most active investors in India’s startups
The company said its first fund is up 270% with an internal rate of return of 100% in three years, thanks to its early-stage investments in startups mentioned above. 8i Ventures also said it has returned 27% of capital to investors.
Editing by Samreen Ahmad and Arpit Nayak
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