Bangalore based, Growth stage investor Elev8 Venture Partners (Elev8) has announced their first close at $67MN of Elev8-Capital Fund 1 (Fund). The funds strategic focus lies in investing in 12 to 14 “tech enabled sector agnostic companies” within a valuation range of $100 MN to $500 MN. Each investment would vary from $10-$15 million. Commenced operations earlier this year Elev8 is India’s first Pro-Rata fund, anchored by KB Investment, South Korea’s largest Financial conglomerate & Venture Catalysts is an institutional co-founder to the fund.This would be the first time in India that a Global Institution has anchored a Maiden fund.

Navin Honagudi, Managing Partner, Elev8 Venture Partners mentioned 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. In a market environment where fundraising has been extremely challenging, Elev8 through its strong value proposition & stellar GP track record has been able to attract some of the leading family offices, prominent HNIs from across India, Middle East, & Asia. The fund has received an AIF category II license from SEBI late last year1.

Eric Yoo, Executive Managing Director of KB investment, mentioned-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.

Elev8 has already taken steps towards its investment strategy and has signed a Term sheet with a company in Enterprise SaaS Space. Elev8 now aims to bet big on digital-first companies across diverse sectors including consumer tech, enterprise software, FinTech & Healthtech, focussed on Series B and C rounds of financing. Beyond investments Elev8 will assist its portfolio companies in expanding their global outreach and strengthen their presence in SEA markets where KB has already established a strong network through partnerships and investments. KB’s experience, operational capabilities, and network of strategic relationships can be a valuable asset for the portfolio companies.

Anuj Golecha, Co-Founder, Venture Catalysts mentioned– Elev8’s investment strategy involves a data-driven algorithm which is highly targeted and leverages the firm’s extensive repository 600+ companies within a valuation range of $100-400M. To ensure the successful execution of growth stage investments we have built a strong operating team with deep expertise in technology space. This approach helps us mitigate risks, identify, and partner up with companies that have a strong growth potential, even in turbulent market conditions,”