Elev8 Venture Partners (Elev8), a growth stage investor based in Bengaluru, has announced that Elev8-Capital Fund 1 (Fund) has closed its first close at $67 million.
According to a press release from the company, the fund will invest in 12 to 14 tech-enabled, sector-neutral businesses with valuations ranging from $100 million to $500 million. Every investment would range between $10 and $15 million.
Elev8 claims that it has started moving toward its investment strategy and has signed a term sheet with a business in the enterprise SaaS sector. With the new fund, it will concentrate on a variety of industries, aiming for Series B and Series C rounds, including consumer technology, enterprise software, fintech, and healthtech.
The team behind Elev8 has previously invested in a number of companies, including Paytm, the top fintech company in India, Shiprocket, an intracity logistics marketplace, Vedantu, an agritech platform, and BharatPe.
Elev8, which is supported by Vcats, announced a $200 million growth-stage fund in September of last year.
