Elevation Capital announces Fund VIII worth $670 Mn

Venture capital and growth-equity investment firm Elevation Capital (formerly SAIF Partners) has announced the launch of its eighth fund and aims to raise $670 million (Rs 5,080 crore) for this India-focused vehicle. 

The fund has already initiated talks with limited partners and is intending to close the fundraising soon. This is the investment firm’s fifth India-focussed fund. 

Elevation Capital has been investing in India since 2002 and backed some of the technology majors such as Acko, FirstCry, MakeMyTrip, Meesho, NoBroker, Paytm, ShareChat, Spinny, Swiggy, Unacademy, Urban Company and XpressBees.

The VC firm typically chases investments in sectors such as consumer products and services, technology, media, education, telecom, financial services, healthcare, travel and tourism, and manufacturing. 

The firm invests between $2 million and $75 million in one or more rounds in its portfolio companies.