8i Ventures, a venture capital firm, has successfully completed its full exit from M2P Fintech, achieving an outstanding 12x return on its investment over a span of 4.5 years. This exit coincided with M2P Fintech’s recent fundraising round, which raised $100 million through a combination of primary and secondary investments.
The firm initially invested ₹9.7 crore, which has now grown to ₹115.9 crore, marking an internal rate of return (IRR) of 131%. Remarkably, this single investment has yielded 1.27 times the total corpus of Fund I on a pre-tax basis while utilizing just 10% of its capital.
8i Ventures’ Fund I, which was launched in May 2019 and concluded in July 2021 with a total of $15.5 million, has demonstrated strong overall performance, currently achieving a 2.5x return with a 37% IRR and a Multiple On Invested Capital (MOIC) of 3.3x.
The fund’s diverse portfolio includes notable companies such as Blue Tokai, Slice, Easebuzz, and Bbetter, with several of these firms preparing for upcoming IPOs. Bbetter, the youngest addition to the portfolio, has already reached profitability and aims for a $10 million run rate this year, with plans to double its revenue.
In 2022, 8i Ventures launched its second fund, which successfully closed its first round at $25 million. Additionally, the firm has introduced a $10 million seed funding initiative named ‘Origami’ to support emerging startups in India. Over the past decade, 8i Ventures and its partners have invested in more than 60 seed to early-stage startups.