Elev8 Venture Partners to launch $200m India-focused fund

Elev8 Venture Partners is set to launch a US$200 million sector-agnostic fund that aims to invest in series B and C funding rounds of Indian tech companies with a ticket size between US$5 million and US$15 million.

Elev8 managing partner Navin Honagudi / Photo credit: Yourstory

The new fund will be led by Elev8 managing partner Navin Honagudi, a fund manager with over a decade of experience investing in early- and growth-stage tech investments.

Venture Catalysts, an institutional backer of Elev8, will also back the new fund and aims to breach US$450 million in assets under management.

Founded in 2016, Venture Catalysts also backs the 9Unicorns accelerator fund and Beams Fintech Fund. It also has an angel network with over 5,000 members.

Elev8’s past investments include fintech firm Paytm, intracity logistic marketplace Shiprocket, edtech platform Vedantu, and agritech platform Reshamandi.

“Even though liquidity in technology investments is drying up, Elev8 has received an overwhelming LP interest as well as partnership avenues with seed funds, as the current vintage offers an excellent opportunity to invest in growth stage companies and earn/target attractive returns,” said Honagudi in a statement.

Note: Elev8 is unrelated to Elev8.vc, which is a VC fund in Singapore.

See also: Has Malaysia’s largest VC lost its luster?