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Elevation Capital Expands Leadership Team with New Promotions

• ByStartupStory     |    October 22, 2024

Early-stage venture capital firm Elevation Capital announced significant leadership changes on Tuesday, promoting Vaas Bhaskar and Chirag Chadha to Partners, while Ashray Iyengar has been elevated to Principal.

Vaas Bhaskar joined Elevation Capital in 2018 and has been instrumental in the firm’s fintech investments. His portfolio includes notable companies such as wealth management firm Dezerv and event-based trading platform Probo, among others.

Chirag Chadha, who has been with Elevation Capital for over seven years, originally joined as an analyst and has focused on consumer technology and brands. His investments include athleisure brand BlissClub, tea cafe chain Chaayos, and apparel brand The Souled Store.

In a joint statement, Chadha and Bhaskar expressed their commitment to the firm’s mission: “We look forward to working alongside our team to make sure Elevation continues playing an outsized role in shaping the Indian technology landscape. Elevation has a long, near unmatched track record of partnering with audacious founders and supporting them in their journeys to creating lasting, category-defining companies. We’re thrilled to take this legacy ahead and continue building with our founders.”

Ashray Iyengar, who previously spent five years at fintech company CRED in various roles, has focused on fintech and consumer investments for Elevation Capital over the past year.

Ravi Adusumalli, Co-managing Partner of Elevation Capital, commented on the promotions: “The promotions of Vaas, Chirag, and Ashray are a great reflection of their journeys that highlight the perseverance and vision that fuel our mission and reinforce our commitment to nurturing talent. As we continue to support our founders and invest in the future, we recognize that true partnership goes beyond just funding and includes providing strategic guidance, operational support, and much more. With Vaas and Chirag joining as partners, we’re excited to elevate this support even further.”

Elevation Capital has established a strong presence in the Indian venture capital landscape, having invested in over 200 companies. Its portfolio boasts 14 unicorns and 9 IPOs, including notable names like IPO-bound Swiggy, Paytm, and Urban Company, among others. The firm is poised to leverage its enhanced leadership to continue fostering innovation and growth in the technology sector.

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