Elevation Capital, a VC focused on seed- and early-stage startups, announced the launch of its new US$670 million fund, which it said is one of the largest for India.
Photo credit: Elevation Capital
Formerly known as Saif Parnters, the firm will continue to focus on seed and series A startups with the latest fund – its eighth so far. The launch comes after Elevation Capital accelerated its investment pace by 2x in the past 12 months.
Elevation Capital has been investing in India since 2002, having injected almost US$2 billion in capital into more than 150 firms. It was an early investor in companies such as Paytm, Sharechat, Spinny, Swiggy, and Unacademy.
See also: A list of India’s unicorns and their early investors (Updated)
“A long-term commitment to the conviction of the founders and their vision is the cornerstone of our approach,” Elevation Capital in a statement. “Once we decide to back a founder in a space, we keep an unwavering resolve to not ‘hedge our bets’ by investing in multiple companies in that space.”
The firm recently participated in the US$70 million series A round of Uni, a fintech startup that provides buy now, pay later services.
Editing by Collin Furtado and Eileen C. Ang
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