Asia based venture capital firm SAIF Partners on Tuesday announced that “It has rebranded itself as Elevation Capital and has also closed early-stage fund of $400 million.”
In a statement issued, SAIF Partners said, “For Elevation, the commitment to founders is reflected through deep conviction and not making competing investments. Elevation believes in partnering all in with empathy, trust, and unflinching support from day one.”
“It has also successfully closed its seventh early-stage fund at $400 million (approx Rs 2,934,” the statement said.
Commenting on the management and use of the fund, the statement said, “Besides, Elevation Capital Managing partner Ravi Adusumalli, these investments would be led and managed by Elevation’s five managing directors – Deepak Gaur, Mayank Khaduja, Mridul Arora, Mukul Arora, and Vivek Mathur. These funds will be deployed starting this calendar year itself and while it is sector – agnostic, some key themes that will be focused on global SaaS (Software as a Service), Content, Gaming, and Consumer.”
Speaking on the development, Adusumalli said, “Elevation reflects our investment ethos and re-emphasizes or commitment to the founders who help redefine our future.”
“For our existing partners, it is a commitment to continued collaboration on our path-breaking journeys together. For our new partners it is a promise to do all we can achieve great heights together from day one,” Adusumalli added.
Founded in 2002, Elevation Capital has been an early-stage investor in companies such as FirstCry, Justdial, MakeMyTrip, Meesho, Swiggy, NoBroker, PayTM, ShareChat and others.