SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets.
The firm started investing in the startups of India 18 years ago after beginning its journey as a joint venture with Softbank. The first high-profile investment by the entity was Sify.
While talking about the development, Ravi Adusumalli, the managing Partner of SAIF Partner, stated that the two firms’ joint venture ended decades ago. Hence, it is making a move to rebrand itself.
SAIF Partners Continues to Make Commitments Amid Rebranding Itself
Adusumalli further added that the elevation indicates the investment ethos and re-emphasize the team’s commitment towards founders to redefine our future. Moreover, it is also a commitment to our partners for continued collaborations. With the rebranding, the group promises to do everything they can to achieve incredible lengths from day one.
It is worth noting that SAIF Partners has backed over 100 startups since its inception. The firm makes long-term chances with founders and backs early-stage startups when securing their pre-seed, seed, pre-series A, and Series A fundraise.
Moreover, the venture invests in a broad range of sectors and is looking to continue its strategy to add more interest areas, stated the Managing Director of Elevation Capital, Deepak Gaur.
Deepak added that the firm is spending a lot of resources on SaaS enterprises. The team believes that many global companies would emerge from India in this sector.
SAIF Partners has over 15 startups in its portfolio, estimated to become a unicorn in the upcoming years. It includes Urban Company, Acko, Capital Float, and NoBroker. Besides, several startups backed by SAIF Partners such as IndiaMART, JustDial, MakeMyTrip have already become publicly listed companies.