8i Ventures, an early-stage venture capital fund has announced the second edition of its pre-seed funding program Origami, aimed at supporting early-stage founders.
The Origami program offers rapid funds access ensuring a streamlined process guaranteeing a response within 1 week, a term sheet in 2 weeks, and deal closure in just 4 weeks.
The program’s first edition, launched in March 2024, saw an overwhelming response, as the fund invested $600K in three startups. These are Cobalt, a SaaS platform for native integrations, Cautio, a fleet dashcam & video telematics platform, and another pre-launch startup.
8i Ventures recently announced the first close of its $50 million second fund by raising $25 million. The firm has allocated $10 million from Fund II, to launch this initiative.
Vikram Chachra, Founding Partner, 8i Ventures said, “At 8i Ventures, we believe that India is on the cusp of a technological revolution, and we’re committed to nurturing the next generation of innovators. With Origami V2, we’re doubling down on our mission to provide early-stage startups with the resources they need to succeed. Continuing our $10 million allocation, we aim to invest in more pre-seed startups this year and potentially double down if the program proves successful. By offering rapid funding and a supportive ecosystem, we aim to accelerate the growth of India’s startup landscape and drive positive change.”
Vishwanath V, General Partner, 8i Ventures said, “We’re looking for founders with a clear vision and a deep understanding of their customers’ pain points. We offer rapid funding and support to help them turn their ideas into successful businesses. We’re looking for a clear insight into a customer problem and a specific approach to both the solution & go-to-market. Additionally, we seek teams with a well-rounded skill set, encompassing technology, product development, and sales.”
8i Ventures has a successful experience with early cheques, with the first investment of $200K in M2P Technologies fetching 36 times returns. M2P, recently raised another round at $800 million. 8i Ventures has also invested early cheques in companies like Slice, Easebuzz and Bbetter, which have scaled many times over after that seed cheque.
