8i Ventures announces first close of $50 million second fund

Early-stage venture capital fund 8i Ventures on November 3 said that it had achieved the first close of its $50 million second fund. “The fund has raised 50% of its targeted assets under management and achieved a first close of $25 million, raised largely from family offices like Salgaocars and Kothari (DSP) who were also invested in 8i Venture’s first fund,“ the firm said in a statement.

The fintech and commerce focused fund plans to write $1.5-2 million cheques at the seed stage, going up to $10 million in subsequent rounds.

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