Early-stage venture capital firm SAIF Partners has now been relaunched as Elevation Capital. In addition, it has also announced the closure of its seventh fund for $ 400 million.
It is the fourth and largest India-focused fund for elevation. In July 2017, it closed a $ 350 million fund to return late stage and public companies early.
“Upgrades reflect our investment ethos and emphasize our commitment to founders who help redefine our future. For our existing partners, this is a commitment to continued cooperation on our path breaking journey together, ”said Ravi Edusumalli, Managing Partner at Elevation in a press statement.
Apart from Edusumalli, these investments will be led and managed by Elevation’s five managing directors – Deepak Gaur, Mayank Khanduja, Mridul Arora, Mukul Arora and Vivek Mathur.
With assets of $ 3 billion under management, the eighteen-year-old venture capital firm is among the top active investors in India, funding over 100 startups including Paytm, Swiggy, MMT, BookMyShow, Rivigo, Coverfox, FirstCry and ShareChat Have done
SAIF typically focuses in areas such as consumer products and services, technology, media, education, telecommunications, financial services, healthcare, travel and tourism, and manufacturing. Jodo, Jomendum, Citimall, Frontraw, Strata, and Camp K12 are notable bets made by SAIF in 2020.
It is worth noting that this is not the first time a private equity and VC firm has re-registered its brand name. IDG Ventures became Chiratae Ventures in 2018, while India Value Fund Advenders also changed its name to TrueNorth in 2017.