Elevation, the early-stage investor that has backed startups such as Swiggy, Paytm, Urban Company and Meesho, has closed its eighth India-dedicated fund at $670 million, its largest-ever corpus.
Led by co-managing partners Ravi Adusumalli and Mukul Arora, along with three Managing Directors Mridul Arora, Deepak Gaur and Mayank Khanduja, Elevation has invested almost $2 billion in over 150 companies across seven funds, with 13 early-stage investments becoming unicorns.
With its Fund VIII, of $670 million, Elevation Capital reaffirms its commitment to partnering with visionary founders to build transformative businesses. Fund VIII will enable Elevation Capital to demonstrate a greater commitment to exceptional founders with a larger initial investment and continued support to them until much later in their journeys.
Fund VIII marks a renewal of Elevation’s commitment to India’s new-age entrepreneurs; if you have an idea that can help new India achieve its boundless ambitions.
Commenting on the new fund, an official statement read, “We believe we are in the golden age of Indian entrepreneurship, and technology-driven innovation will spearhead India’s rise to an economic superpower. Twenty years ago, when Elevation (then SAIF Partners) first started investing in India, it was difficult to imagine the pace at which tech would pervade every sphere of life. We, at Elevation, feel proud and privileged to be an enabler for many transformative founders from the very start of their journeys.”