Elevation Capital has launched a new $400 million late-stage fund, Elevation Holdings, to invest in companies nearing public listing, moving beyond its traditional focus on early-stage startups.
According to an ET report, the fund will invest $20–50 million in 10–15 companies, primarily in consumer and financial services sectors with a technology focus.
“Our horizons for investments are much longer and we will hold long enough to be considered permanent holders of the stock. We also have the flexibility in terms of having a non-intrusive check size for a company of that scale,” said Mridul Arora, Partner, Elevation Capital.
Elevation Holdings will run in parallel with Fund VIII, a $670 million early-stage vehicle that typically invests $2–5 million in startups. The new fund will target companies not more than three years away from IPO, with either profitability or a clear path toward it.
The fund has already invested in Spinny, the used-car marketplace.
Elevation Capital’s portfolio includes leading names such as FirstCry, Ixigo, MakeMyTrip, Paytm, Swiggy, and IPO-bound startups like Meesho and Urban Company. Recently, it executed partial exits from Ixigo after its listing.
With this launch, Elevation Capital is expanding its strategy to support companies across their growth journey—from early stage to public markets.
By: Arushi Agarwal
