8i Ventures, an early-stage venture capital firm, has exited its investment in M2P Fintech, achieving a 12x return on initial cash

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The firm invested Rs 9.7 crore in the fintech startup in January 2020 and received a total return of Rs 115.9 crore after exiting recently

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The departure was part of M2P Fintech's recent $100 million capital round, which included primary and secondary transactions

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In 2020, 8i Ventures invested in M2P Fintech to support its aim of creating a global Banking-as-a-Service (BaaS) platform

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M2P Fintech was initially valued at $9 million

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The startup's valuation reached $600 million, resulting in a 131% internal rate of return (IRR) for 8i Ventures

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In April 2022, 8i Ventures exited partially from M2P Fintech. The latest pullout represents the firm's complete exit from the company

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Fund I, the 8i ventures’ initial fund, invested only 10% of its Rs 100 crore capital in M2P, yet the exit earned 1.27 times the fund's whole corpus

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This fund also invested in startups including Slice, Easebuzz, and Blue Tokai

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