Early-stage growth investor Elev8 Venture Partners, based in Bangalore, disclosed the first secured investment of Elev8-Capital Fund 1 at $67 million. The strategic goal of the fund is to make investments in 12 to 14 “tech-powered industry-agnostic companies” with valuations ranging from $100 million to $500 million, with a range of $10 million to $15 million for each investment.
In addition to making investments, Elev8 will help its portfolio firms increase their visibility across the globe, especially in SEA areas where KB has already built strong relationships through partnerships and previous investments. The statement went on to say that KB’s knowledge, ability to operate, and network of strategic partnerships might be a tremendous benefit for the portfolio companies, as reported by Entrepreneur.com
“We have spent a significant amount of time and concluded that Elev8’s management team is by far the best team to invest in, at the growth stage. Their exceptional track record, prospective portfolio pipeline, and proprietary data algorithms have presented a strong proposition for us to join hands. Furthermore, Navin and the VCats group provide unprecedented access and network to early-stage startups, which will significantly enhance Elev8 in future deal flow and investments,” said Eric Yoo, executive managing director, KB investment.
“Given overwhelming response we have received from our LP’s we were able to announce the first close in 3 months, much earlier than expected. Way forward is to be aggressive in the current environment and invest in one company a quarter or more. We feel the existing vintage will uncover the finest companies in the coming decade,” said Navin Honagudi, managing partner, Elev8 Venture Partners.
About Elev8 Venture Partners
India-focused $200 million growth in technology stage fund Elev8 VP Elev8 will concentrate on Stage B and C investment rounds in hyper-growth businesses. It is the initial Pro Rata fund in India and has teamed up with some of the top microfunds and Big Angels to make investments in their successful portfolio companies. Elev8 invests alongside top-tier growth funds to gain access to the crowded rounds of India’s leading technology businesses.