Early-stage venture capital fund 8i Ventures on November 3 said that it had achieved the first close of its $50 million second fund . Every single friction point in India’s financial economy is a potential billion-dollar startup opportunity. Fund 2 will have 15-20 companies that we will invest in over the next 3 years. We will invest at seed, with a USD 1.5-2 million cheque, going up to series B in the winners,” said Chachra.8i Ventures General Partner Vishwanath said that Fund I portfolio winners already process $18 billion in payments annually, while cumulatively generating $100 million in gross profits.“At 8i, we wrote the first cheque to several outliers that at inception were unobvious winners. For Fund II, we will follow the same thesis, but with larger ownership across our investments,” he added.

Source: Economic Times November 03, 2022 17:27 UTC