Elev8 Venture Partners raised ₹1,400 crore ($160 million) for its India-focused fund, despite a global venture capital downturn. Investors included those from Korea and Hong Kong.

The fund, which was backed by Venture Catalysts, drew sovereign wealth funds, family offices, and unicorn entrepreneurs. Elev8's ₹1,400-crore funding round aims to support Indian startups seeking growth capital.

Key Highlights 

• Elev8 Venture Partners closes ₹1,400 crore maiden fund (~$160 million), marking a strong entry amid global VC slowdown.
• The fund targets high-growth, tech-driven firms across consumer internet, enterprise software, and fintech sectors.

 "Despite a challenging global fundraising environment, Elev8 has secured support from institutions, sovereign funds, family offices, and founders who share our conviction in India's growth story," said Navin Honagudi, managing partner at Elev8 Venture Partners.

"Our focus now is to deploy the remaining capital with discipline and support our portfolio companies on their journey towards IPOs and global leadership."

Elev8, which launched in 2023, has already invested one-third of its capital in five companies — Astrotalk, IDfy, Smallcase, Porter, and Snapmint — with checks ranging from $8 to $14 million. Elev8 has co-invested alongside its LPs in some of these transactions, including family offices and high-net-worth individuals, further validating the quality of the deals and increasing Elev8's cheque size and overall capital invested in its portfolio companies.

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The remaining two-thirds of the fund will be invested in high-growth companies that meet Elev8's rigorous investment criteria over the next 12-18 months.

Elev8's early results, having co-invested alongside marquee venture capital and private equity investors, demonstrate both the quality of its deals and the strength of its approach. All Elev8-backed companies are rapidly scaling, growing at more than 30% per year while remaining profitable.