Elev8 Venture Partners has unveiled a $200 million fund

• ByStartupStory     |    September 30, 2022

Elev8 Venture Partners (Elev8) has established a $200 million sector-neutral fund with a focus on India that would invest in growth-stage, technology-driven businesses with a $5 to $15 million investment minimum.

Fast-growing tech firms will get Series B and C round investments from Elev8. The fund features a green-shoe option and has an AIF Cat II approval from SEBI.

Navin Honagudi, a seasoned fund manager with more than 15 years of experience in early and growth stage technology investments, will serve as the fund’s manager and co-founder. Navin invested in over 50 businesses, including those in the consumer internet, enterprise, fintech, edtech, and health tech sectors, during his more than ten years as a partner at Kae Capital before founding Elev8.

Navin began his career with Reliance’s Corporate Venture, participated in early internet investments in India, and has experienced multiple investment-to-exit cycles. Elev8 has institutional backing from Venture Catalysts.

Fintech powerhouse Paytm, Shiprocket, Vedantu, as well as other start-ups like Bharatpe, Kenko, BluSmart, Beardo, Niyo, Goat, Airmeet, Toch, and Zypp, are just a few of the companies in which the Elev8 team has previously invested.

Elev8 would also concentrate on collaborating with Indian seed funds, which lost out on investing nearly $500 million in pro rata financing for their prosperous portfolio firms in 2021 alone. While successful structures with a similar model can be found in the US and Europe, this will be the first Pro-Rata fund in India, giving elite investors access to oversubscribed rounds.

The current vintage presents an exceptional chance to invest in growth stage firms and earn/target strong returns, and Elev8 has received an overwhelming level of LP interest as well as cooperation opportunities with seed funds. According to Navin Honagudi, partner at Elev8, “we are in advanced stages of conversations to build various worldwide alliances which going ahead would enable our portfolio companies to expand outside of India during their growth phase.

“In a market with a sizable gap of domestic growth stage VC funds with the necessary expertise, we are enthused about Elev8’s strategy. By entering the growth stage, where businesses have shown evidence of product-market fit, resilience during downturns, and strong founders capable of leading their businesses in the right direction regardless of market conditions, Elev8 significantly reduces risk, according to CA Anuj Golecha, partner at Elev8 and co-founder of Venture Catalyst.

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