Elev8 Venture Partners closes $160 Mn for maiden fund

Elev8 Venture Partners, a venture capital firm started by former Kae Capital partner Navin Honagudi, has closed its maiden fund at Rs 1,400 crore (about $160 million). The fund will back growth-stage companies in consumer internet, enterprise software, and fintech.

The investor base includes institutions from South Korea, Hong Kong, and India, along with sovereign funds, family offices, and unicorn founders. KB Investment, part of South Korea’s KB Financial Group, is the anchor investor. Self Reliant India Fund has also committed capital.

According to the fund, about one-third of the corpus is already invested. Elev8 plans to deploy the rest within the next 12–18 months. It aims to invest $10–15 million each in 12–14 startups valued between $100 million and $300 million.

The portfolio already includes Astrotalk, Idfy, Smallcase, Porter, and Snapmint.

Last week, Elevation Capital also launched a $400 million late-stage fund aimed at supporting IPO-bound startups. Bessemer Venture Partners announced a $350 million India fund in March, and Accel raised $650 million in January.