8i Ventures launches new $10M seed fund Origami
The new fund aims to provide capital in the range of $250,000 to $2 million, depending on the requirements of the startups.
Early-stage venture capital fund 8i Ventures has launched a new initiative to support startups at the seed stage with a $10 million fund, Origami.
The fund aims to provide capital in the range of $250,000 to $2 million, depending on the requirements of the startups, with the top priority being the speed of the transaction. Calling it the “1-2-4” model, Origami said it aims to close deals within four weeks of receiving proposals from startups.
“Some of the most successful startups have been created in the deepest of funding winters. , and WhatsApp were all incorporated during the great financial crisis of 2008. We believe that there has never been a better time to build than right now which is why we created ‘Origami’," said Vikram Chachra, Founding Partner, 8i Ventures.
"Through this seed programme, we aim to invest in 8-10 startups this year, and if this initiative is well-received, we hope to double our allocation to $20 million," he added.
The VC firm said it will focus on startups at the pre-seed to early revenue stage.
“Origami is meant to simplify fundraising for founders who would prefer to use their bandwidth on customers rather than on long fundraising cycles. We’re here to support great teams and help them build successful ventures with a swift, transparent decision-making process," Vishwanath V, Partner, 8i Ventures said.
Founded in 2019, 8i Ventures has backed startups including , , , and , among others. It has launched two funds, with the first fund being Rs 100 crore in size. Last November, the company raised $25 million as the first close of its $50 million second fund.
Edited by Affirunisa Kankudti