Elev8 Venture Partners Closes Maiden Fund at INR 1,400 Cr The fund plans USD 10–15 million bets in 12–14 startups worth USD 100–300 million across internet, software, and fintech.
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Elev8 Venture Partners, a venture capital firm founded by former Kae Capital partner Navin Honagudi, has announced the final close of its maiden fund at INR 1,400 crore (USD 160 million).
The fund will invest in growth-stage companies across consumer internet, enterprise software, and fintech.
The investor pool includes institutions from South Korea, Hong Kong, and India, along with sovereign funds, family offices, and unicorn founders. KB Investment, part of South Korea's KB Financial Group, is the anchor investor. Self Reliant India Fund has also committed to the corpus.
According to Elev8, nearly one-third of the capital has already been invested. It intends to deploy the remaining funds within the next 12 to 18 months, with plans to invest between USD 10 million and USD 15 million in each of 12 to 14 startups valued in the range of USD 100 million to USD 300 million.
The portfolio currently features Astrotalk, IDfy, Smallcase, Porter, and Snapmint.
Navin Honagudi, Managing Partner at Elev8 Venture Partners, said, "The final close of our maiden fund is both a capital milestone and a validation of our belief that India's next wave of market leaders will be built on profitability, resilience, and scale. Our focus now is to deploy the remaining capital with discipline and support our portfolio companies on their journey towards IPOs and global leadership."
The fund close comes amid increased activity in late-stage venture investing in India.
Elevation Capital recently unveiled a USD 400 million fund for IPO-ready startups, while Bessemer Venture Partners and Accel announced new funds worth USD 350 million and USD 650 million, respectively, earlier this year.
