8i Ventures Launches USD 10 Mn Seed Program 'Origami' to Fuel Early-Stage Startups Through this seed program 8i Ventures hopes to invest USD 250,000 to USD 2 million in 8–10 startups this year.
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Venture capital fund 8i Ventures has announced the launch of 'Origami', a seed funding program aimed at supporting early stage founders.
Through this seed program, 8i Ventures targets those businesses in the pre-seed to early revenue stage, prioritising 'speed' as its hallmark feature.
As per the official release, the program will ensure a streamlined process with a response within 1 week, a term sheet in 2 weeks, and deal closure in just 4 weeks, facilitating fundraise for founders, enabling growth without delays or distractions.
In the middle of the funding winter season, 8i Ventures announced the first close of its USD 50 million second fund by raising USD 25 million. The firm has allotted USD 10 million from Fund II, to launch this initiative.
Vikram Chachra, Founding Partner, 8i Ventures said, "Some of the most successful startups have been created in the deepest of funding winters. Uber, Airbnb and Whatsapp were all incorporated during the great financial crisis of 2008. We believe that there has never been better time to build than right now which is why we created 'Origami'. Through this seed program we aim to invest in 8-10 startups this year, and if this initiative is well-received, we hope to double our allocation to USD 20 million."
Founded in 2019 by Vikram Chachra and Vishwanath V, the company is committed to nurturing the next generation of business leaders. It aims to boost startup growth across industries by investing USD 250,000 to USD 2 million in pre-seed to early revenue phase companies.
8i Ventures is an early investor of companies such as Slice, M2P, Easebuzz and Blue Tokai among others.
Vishwanath V, Partner, 8i Ventures said, "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."
