Bengaluru-based growth stage investor Elev8 Venture Partners (Elev8) has announced its first close at $67 million of Elev8-Capital Fund 1 (Fund).
The fund will invest in 12 to 14 tech enabled sector agnostic companies within a valuation range of $100 million to $500 million, the firm said in a press release. Each investment would vary from $10-$15 million.
According to Elev8, it has already taken steps towards its investment strategy and has signed a Term sheet with a company in enterprise SaaS space. With the new fund, it will focus across diverse sectors including consumer tech, enterprise software, fintech and healthtech, targeting Series B and Series C rounds.
Some of the previous investments of the team behind Elev8 include India’s leading fintech company Paytm, intracity logistic marketplace Shiprocket, edtech platform Vedantu, agritech platform Reshamandi, and BharatPe, among others.
In September last year, Vcats-backed Elev8 had announced $200 million worth growth stage fund.
