8i Ventures earns 12X return on full exit from M2P Fintech

Ventue Capital firm 8i Ventures has announced its full exit from its investment in M2P Fintech, realizing a remarkable 12x return after 4.5 years. The exit came as part of M2P Fintech's recent $100 million capital raise, which included both primary and secondary investments.

Initially investing Rs 9.7 crore, 8i Ventures has turned this into Rs 115.9 crore, reflecting an internal rate of return (IRR) of 131%. This single investment has generated 1.27x the total corpus of Fund I on a pre-tax basis, using only 10% of its capital.

8i Ventures' Fund I, which launched in May 2019 and closed in July 2021 with a total of $15.5 million, has also shown strong overall performance, currently standing at 2.5x with a 37% IRR and a Multiple On Invested Capital (MOIC) of 3.3x.

The fund’s portfolio includes promising companies like Blue Tokai, Slice, Easebuzz, and Bbetter, with plans for upcoming IPOs for several of these firms. Bbetter, the youngest in the portfolio, is already profitable and targets a $10 million run rate this year, with aspirations to double its revenues.

In 2022, 8i Ventures initiated its second fund, achieving its first close at $25 million, and recently launched a $10 million seed funding program named 'Origami' to support emerging start-ups in India. Over the last decade, 8i and its partners have backed over 60 seed to early-stage startups.