Mumbai, 15th March, 2024: 8i Ventures, India’s early-stage venture capital fund, today announced the the launch of ‘Origami’, a seed funding program aimed at shaping India’s startup sector and supporting early stage founders. Founded in 2019 by Vikram Chachra & Vishwanath V, the company is committed to nurturing the next generation of business leaders. By investing upto $2 million in pre-seed to early revenue phase startups, 8i Ventures seeks to accelerate startup growth across industries. 8i Ventures is an early backer of companies such as Slice, M2P, Ease buzz and Blue Tokai among others.
‘Origami’ represents the transformation of a simple idea into something extraordinary. Through this seed program, 8i Ventures targets those businesses in the pre-seed to early revenue stage, prioritizing ‘speed’ as its hallmark feature. Offering rapid access, 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. While acknowledging the value of guidance and resources, Origami’s core commitment lies in swiftly facilitating fundraise for founders, enabling growth without delays or distractions.
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 $20MM.”
In the middle of the funding winter season, 8i Ventures announced the first close of its $50 million second fund by raising $25 million. The firm has allotted $10 million from Fund II, to launch this initiative.
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.”
The seed program will follow the “1-2-4 model”, offering a streamlined pathway for startups to secure crucial funding within 4 weeks of applying. Participating startups will be funded with $250k-$2M depending on their need.
To kickstart the journey with Origami, founders can simply visit https://8ivc.com and complete a brief questionnaire outlining their venture.