- SAIF Companions, one in every of India’s most profitable VC corporations, is again in a brand new avatar – Elevation Capital.
- It additionally introduced the closure of its seventh fund in India for $400 million.
- SAIF Companions, when it was fashioned in 2001, stood for Softbank Asia Infrastructure Fund.
SAIF Companions, one in every of India’s most profitable VC corporations, is again in a brand new avatar – Elevation Capital. The agency, which was based in 2001, has backed a number of startups in India – seven of which have gone one to turn out to be unicorns.
With a brand new fund of $400 million – its seventh fund in India, Elevation Capital joins the likes of Sequoia, Lightspeed Companions, Chiratae Ventures – all of whom have efficiently closed their funds in the midst of the pandemic.
Rationale behind the rebranding
SAIF Companions, when it was fashioned, stood for Softbank Asia Infrastructure Fund. Regardless that SoftBank stop as an LP (Restricted Accomplice) again in 2004, the agency had continued with the identical branding.
“We felt that the title SAIF, whereas properly acknowledged, didn’t talk what we stand for to our companions and founders. Whereas the rebranding has been a thought through the years, and (with) a brand new fund elevate within the offing, we thought that the time was prime to consider a brand new title that echoes our funding ethos higher,” mentioned Deepak Gaur, Managing Director.
A few of its massive investments up to now
|Complete Belongings Underneath Administration||Over $2 billion till Fund VII|
New model, new fund, identical funding thesis
The brand new model Elevation Capital, Gaur added, displays their funding ethos and dedication to the founders who assist redefine their future.
Elevation Capital’s seventh fund will proceed to work on the identical funding philosophy, the place the companions will put money into early-stage firms. “We are going to proceed to concentrate on the Seed/Collection A stage. As for the sectors, we are going to proceed to take a position throughout shopper web (together with e-commerce, edtech, gaming, content material), shopper manufacturers, international SaaS and monetary providers,” mentioned Mayank Khanduja, Managing Director.
Elevation Capital companions who will make the decision for investments
|Ravi Adusumalli||Deepak Gaur||Mayank Khanduja||Mridul Arora||Mukul Arora||Vivek Mathur|
Whereas every associate has a goal of two investments per yr, the agency doesn’t have a set aim for the seventh fund. “We now have a long-term oriented method with our funds and portfolio firms and we’re selective within the investments that we make, in order that we will do justice to the connection now we have with the founders. We don’t have any goal variety of investments in a yr,” mentioned Khanduja.
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