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
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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 BIZ Experiencess 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 BIZ Experiencess.
