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Elevation Capital to invest $670 mn fund in new Indian startups

Elevation Capital

Elevation Capital announces funds to invest in start-ups

Elevation Capital, an early-stage venture capital firm, has announced the launch of its VIII fund, which will invest in new start-ups in India and has a corpus of $670 million. Elevation Capital, which has supported Paytm, Swiggy, and Meesho, among other companies, said in a blog post that Fund VIII is one of the largest India-focused venture platforms to date. The fund has invested about $2 billion in over 150 companies over the last two decades, with 13 early-stage investments becoming unicorns in India. 
 
It will allow us to continue to serve as a critical catalyst for Indian entrepreneurs to achieve their goals. “With a larger initial investment and sustained assistance to excellent entrepreneurs until far later in their travels, Fund VIII will allow us to demonstrate a greater commitment to exceptional founders,” the VC fund said. 
 
Elevation Capital has stated that it will continue to invest in firms in the Seed/Series A stage. 
 
Early-stage investing is where we have found our ikigai — the perfect intersection of our capabilities, passion, and the needs of the founder ecosystem. As a result, our investment pace has accelerated, increasing by 100% in the last 12 months,” according to an official handout.

Elevation Capital

The announcement comes at a significant milestone when the start-up ecosystem is glimpsing some headwinds in interests from the large funds/ investors overseas due to the consequence of the endless Russia-Ukraine conflict on tech stocks/ markets. 
 
Elevation Capital, however, announced that the fund proceeds to continue to be directed to India. 
 
With a market capitalization of $3.2 trillion, India’s equities market is now the fifth largest in the world, and it is predicted to reach $10 trillion in the next ten years. We are even more sure that we have only scratched the surface of India’s digital potential, given the Indian startup ecosystem’s even brighter future. The cumulative value of the 100 unicorns in India is $240 billion. “We think that over the next decade, this will increase by more than tenfold, with Indian tech businesses having a market capitalization of more than $2 trillion,” the VC fund added.

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