Elev8 Venture Partners, a VC firm founded by former Kae Capital partner Navin Honagudi, has announced the close of its maiden fund at Rs 1,400 crore (~$160M).
The fund will target growth-stage startups in consumer internet, enterprise software, and fintech, with check sizes of $10M–$15M. Elev8 aims to back 12–14 startups valued between $100M and $300M, with one-third of the corpus already invested.
The investor base includes institutions from South Korea, Hong Kong, and India, alongside sovereign funds, family offices, and unicorn founders. KB Investment (part of South Korea’s KB Financial Group) serves as the anchor investor, while Self Reliant India Fund has also committed capital.
The current portfolio features Astrotalk, Idfy, Smallcase, Porter, and Snapmint. Elev8 expects to deploy the remaining capital over the next 12–18 months.
The announcement comes amid an active fundraising environment in India’s VC space. Elevation Capital recently launched a $400M late-stage fund, Bessemer Venture Partners announced a $350M India fund, and Accel closed a $650M fund earlier this year.
By: Arushi Agarwal
