'In 2024, you'll see higher valuations for better companies'

Early-stage venture capital firm 8i Ventures, which has backed M2P Fintech, Slice and Blue Tokai, marked the first close of its $50 million second fund in 2022 via commitment from high-net-worth individuals and family offices of Salgaocar and DSP group's Kotharis.

- Aman Rawat

Founded in 2019 by Vikram Chachra and Vishwanath V., it backs business-to-business fintech firms, and e-commerce facilitators. It is now looking to build a portfolio of 15-20 firms with its second fund. In an interview with VCCircle, Chachra speaks on the delay in the final close of its second fund, returns from the first fund and changes in early-stage investment strategies. Edited excerpts: 

How was 2023 for the venture capital ecosystem?

Startups that went public recently focused on becoming sustainable enterprises as opposed to being a startup force. So, when the leaders go into a sustainable mode, they set the trend for everyone else. 2023 was the year when everyone was figuring out where the fall (in funding) was heading. Funding slowdown isn't over yet despite so much money on the side.