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Elev8 Launches Sector Agnostic $200 Mn Growth Stage Fund

This tech-focused fund to invest in Series B/C start-ups in India

Elev8 Launches Sector Agnostic $200 Mn Growth Stage Fund
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Elev8 Venture Partners (Elev8) launches $200 million India-focused sector agnostic fund. The maiden fund intends to invest in growth-stage, technology-driven companies with a ticket size of $5-15 Mn. Elev8 will invest in Series B and C rounds in fast-growing tech companies. The Fund has received an AIF Cat II license from SEBI and includes a green-shoe option.

The Fund will be led and cofounded by Navin Honagudi, a seasoned fund manager with over 15 years of experience in early and growth stage technology investments. Prior to starting Elev8, Navin was a Partner at Kae Capital for over a decade and has invested in over 50 companies.

Venture Catalysts, India’s leading Early-stage platform, is an institutional backer of Elev8. With Elev8 as the 4th fund backed by the firm, the total AUM of the Venture Catalysts group is poised to cross $450mn. Founded in 2016 by Apoorva Ranjan Sharma, Anil Jain, CA Anuj Golecha and Gaurav Jain, the Mumbai-headquarter group also includes 9Unicorns accelerator fund, Beams Fintech fund. 

“Even though liquidity in technology investments is drying up, Elev8 has received an overwhelming LP interest as well as partnership avenues with seed funds, as the current vintage offers an excellent opportunity to invest in growth stage companies and earn/target attractive returns. We are in an advanced stage of discussions to establish several global partnerships which going forward will help our portfolio companies expand beyond India during their growth phase,” said Navin Honagudi, partner at Elev8.

"We are enthusiastic about Elev8's approach in a market where there is significant whitespace of domestic growth stage VC funds with the requisite experience. Elev8 considerably reduces risk by entering the growth stage, where companies have demonstrated product-market fit, resilience during downturns, and strong founders capable of driving their companies in the right direction irrespective of market conditions,” said CA Anuj Golecha, partner at Elev8 and co-founder, Venture Catalyst.


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