Get All Access for $5/mo

Elevation Capital Announces Fund VIII Of $670 Million Elevation Capital has invested almost $2 billion of capital in over 150 companies across seven funds, with 13 early-stage investments becoming Unicorns

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company

Elevation Capital on Friday announced its eighth pool of capital consisting of $670 million. Elevation Capital has invested almost $2 billion of capital in over 150 companies across seven funds, with 13 early-stage investments becoming Unicorns.

India's tech ecosystem has reached an inflection point. The government is aiming to make India's GDP cross $5 trillion in five years. This rising prosperity is augmented by foundational rails such as the UPI system, Universal ID, and streamlined taxation structures. Adding value to this mix are favorable factors such as a deep professional talent pool with global tech exposure, soaring Internet mobile penetration and strong global capital inflows.

A combination of these economic, technological, infrastructural and demographic factors creates the perfect environment for many more tech companies to be built for and from India. The unicorns in India alone have a combined valuation of approximately $240 billion that will grow over 10 times over the next decade and Indian tech companies will have more than $2 trillion of market cap, according to a statement given by the company.

"At Elevation, we have played a crucial role in nurturing the earliest of tech entrepreneurs in India. Over the past two decades, we have invested almost $2 billion of capital in over 150 companies across seven funds, with 13 early-stage investments becoming unicorns," said a statement from Elevation Capital.

Elevation Capital has been early investors in multiple category defining companies.These include category leaders such as Acko, FirstCry, Makemytrip, Meesho, NoBroker, Paytm, Sharechat, Spinny, Swiggy, Unacademy, Urban Company, Xpressbees and many others. Elevation's Fund VIII is one of the largest India-focused venture platforms to date. Fund VIII will allow Elevation Capital to demonstrate commitment to founders with a larger initial investment. Fund VIII marks a renewal of Elevation's commitment to India's new age entrepreneurs.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Starting a Business

10 Traits of Successful Entrepreneurs That Investors Love (Even If They Seem Like Jerks)

This article explores a thought-provoking question: Why do many successful entrepreneurs exhibit traits that might label them as "jerks?"

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.