Wikipedia:Elevation Capital

Elevation Capital, which was previously known as SAIF Partners India until October 2020, is an India-focused venture capital fund, investing in early-stage startups (seed, series A, series B rounds). Elevation Capital funds are based in Mauritius and have a team of investment advisors in India.

The fund has been the first investor in market-leading companies like Paytm, Swiggy, Urban Company, Meesho, FirstCry, Acko, Rivigo, Nobroker.com and ShareChat. The India investment advisors have offices in Bengaluru and Gurgaon, India and the fund also has a team and office in Mauritius.

Elevation Capital has raised a total of approximately USD 1Bn across its three funds.

Background
Elevation Capital was initially started as SAIF Partners India, a fund for investments in South and East Asia (including India and China). It branched out in 2011 when it raised its first India dedicated fund of USD350M. It thus became an independent fund solely focused on India. Since then they have raised two more funds of similar size (in 2015 and 2017) and have backed more than 50 companies since.

Investment strategy
The fund has historically invested in multiple companies with "India-first” business models. Elevation Capital is an early stage investor in consumer internet, B2B technology and consumer brand companies in India. The fund invests across stages with seed and Series A rounds forming a major share of its investments. The fund is often the first institutional investor in these investee companies. The initial investment amounts can start from USD1M (in seed rounds) and go up to USD15-20M in Series B and later stages. The fund continues to participate in later rounds in these companies with investment in a single company going up to USD 50Mn and above. A part of the fund is also invested in listed Indian companies through the FPI route licensed under SEBI regulations.

Sectors
The fund invests across a wide range of sectors including (not limited to) mobile, gaming, content, social, e-commerce, education, B2B, SME and enterprise SaaS, cloud and IT infrastructure, fintech, healthcare, healthtech, consumer brands, logistics, travel and mobility.

Corporate sustainability
Elevation Capital joined other Venture Capital funds and startups in India to support ACT Grants, which fund innovations to counter Covid-19. ACT offers grants, ranging between ₹1 lakh and ₹10 crore, to startups and initiatives that use technology to create large-scale impact in the detection, prevention and eradication of covid-19. ACT Grants has raised about ₹100 crore from over 50 venture capital firms, startup founders, non-profit organisations and industry veterans.