Bengaluru, India — In a bold move defying global venture capital stagnation, Elev8 Venture Partners has officially closed its inaugural fund at ₹1,400 crore (~USD 160 million), positioning the firm as a key growth-stage investor in India’s dynamic startup ecosystem.
Backing & Strategy
The fund’s closing garnered support from a robust mix of investors—from sovereign wealth funds to family offices and unicorn founders , spanning markets like South Korea, Hong Kong, and India. Notably, KB Investment (part of South Korea’s KB Financial Group) anchors the fund, while domestic powerhouse Self‑Reliant India Fund also contributes.
“Despite a challenging global fundraising environment, Elev8 has secured support from institutions … who share our conviction in India’s growth story,” said Navin Honagudi , the Managing Partner of Elev8.
Deployment & Portfolio
Having launched in 2023 , Elev8 has already put one-third of its fund to work across five promising startups:
Cheque sizes have ranged between USD 8 million to 14 million .
Over the next 12–18 months , Elev8 plans to deploy the remaining capital—targeting 12 to 14 more investments , each ranging from USD 10 to 15 million , in firms valued at USD 100–300 million .
Investment Lens: Discipline + Scalability
Elev8’s investment model emphasizes:
Co-investment partnerships — Aligns with institutional LPs and family offices to scale investment capacity.
Profitability and governance — Prefers companies with proven fundamentals.
Vertical focus — Concentrates on consumer internet , enterprise SaaS , fintech , and premium consumer brands .
Honagudi confirmed that while AI is not treated as a standalone play , it remains a critical enabler—they avoid early-stage “binary risk” ventures and look for scale-ready operations.
With its ₹1,400 crore fund, Elev8 Venture Partners is poised to influence the trajectory of high-growth Indian startups—championing seasoned, scale-ready ventures that are built for long-term success. As Honagudi puts it, the firm is committed to helping Brazil’s unicorns of tomorrow reach both global leadership and an eventual IPO.
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