Venture capital firm 8i Ventures has successfully exited its investment in M2P Fintech, achieving an impressive 12x return after 4.5 years. This exit came as part of M2P Fintech’s recent $100 million fundraising round, which involved both primary and secondary investments. The firm’s initial investment of Rs 9.7 crore has now transformed into Rs 115.9 crore, marking an internal rate of return (IRR) of 131%.

This single deal has outperformed expectations, returning 1.27x the total corpus of 8i Ventures’ Fund I on a pre-tax basis, using just 10% of its capital. Fund I, which was launched in May 2019 and closed in July 2021 with a total corpus of $15.5 million, is delivering strong overall performance, boasting a 2.5x return with a 37% IRR and a Multiple on Invested Capital (MOIC) of 3.3x.

8i Ventures’ investment portfolio includes prominent companies like Blue Tokai, Slice, Easebuzz, and Bbetter. Several of these firms are on track for IPOs, and Bbetter, the youngest of the portfolio, has already achieved profitability. The company aims for a $10 million revenue run rate this year, with plans to double its earnings.

Building on the success of Fund I, 8i Ventures launched its second fund in 2022, securing $25 million at its first close. Recently, the firm also introduced a $10 million seed funding initiative named ‘Origami,’ designed to support emerging startups in India. Over the past decade, 8i and its partners have backed over 60 seed to early-stage startups, further solidifying their position as a key player in India’s venture capital ecosystem.