TLDR:
8i Ventures has launched a USD 10 million seed program called ‘Origami’ to support early-stage founders. The program aims to invest in 8-10 startups this year with a streamlined process for quick fundraise and growth.
Article Summary:
Venture capital fund 8i Ventures has introduced a new seed funding program called ‘Origami’ to assist early-stage founders. The program targets businesses in the pre-seed to early revenue stage and emphasizes speed as a key feature, promising a response within 1 week, a term sheet in 2 weeks, and deal closure in 4 weeks.
In the midst of the funding winter season, 8i Ventures confirmed the first close of its USD 50 million second fund by raising USD 25 million, allocating USD 10 million from Fund II for the launch of ‘Origami’. The company’s founders, Vikram Chachra and Vishwanath V, aim to invest in 8-10 startups this year and potentially double their allocation to USD 20 million if the initiative is well-received.
Founded in 2019, 8i Ventures is dedicated to nurturing the future generation of business leaders by investing USD 250,000 to USD 2 million in pre-seed to early revenue phase companies. The firm has previously invested in companies like Slice, M2P, Easebuzz, and Blue Tokai.
‘Origami’ is designed to simplify the fundraising process for founders, allowing them to focus on their customers rather than lengthy fundraising cycles. The program aims to support great teams and help them build successful ventures with transparent decision-making processes.
