SAIF Partners raises $400m for new early-stage fund, rebrands as Elevation Capital

The India-based early stage venture capital (VC) firm SAIF Partners announced that it has raised US$400 million for its seventh early-stage fund. It has also rebranded itself as Elevation Capital.

The fund will be managed by Elevation Capital’s managing partner Ravi Adusumalli and its five managing directors: Deepak Gaur, Mayank Khanduja, Mridul Arora, Mukul Arora, and Vivek Mathur.

Founded in 2002, the VC firm has been an early investor in companies such as FirstCry, Justdial, MakeMyTrip, Meesho, NoBroker, Paytm, ShareChat, Swiggy, Unacademy, and Urban Company.

Elevation Capital claims to have assets worth over US$2 billion under its management.

“Elevation reflects our investment ethos and re-emphasizes our commitment to the founders who help redefine our future,” Adusumalli said in a statement. “For our existing partners, it is a commitment to continued collaboration on our path [of] breaking journeys together. For our new partners, it is a promise to do all we can to achieve great heights together, from day one.”