In order to invest in series B and C investment rounds of Indian digital startups with a ticket size between US $5 million and US $15 million, Elev8 Venture Partners is launching a $200 million sector-agnostic fund.
Navin Honagudi, managing partner of Elev8, a fund manager with more than ten years of expertise in early and growth-stage digital investments, will be in charge of the new fund.
The new fund will receive support from Venture Catalysts, an institutional investor in Elev8, and it aspires to manage assets worth more than US $450 million.
The 2016-founded Venture Catalysts organization also supports the Beams Fintech Fund and the 9Unicorns accelerator fund. Additionally, it has a more than 5,000-member angel network.
In the past, Elev8 has invested in companies including Paytm, an intracity logistics marketplace, Vedantu, an edtech platform, and Reshamandi, an agritech platform.
“Even though liquidity in technology investments is drying up, Elev8 has received an overwhelming LP interest as well as partnership avenues with seed funds, as the current vintage offers an excellent opportunity to invest in growth stage companies and earn/target attractive returns,” said Honagudi in a statement.
