Investment firm Elevation Capital appoints founder of its portfolio companies as operating partner
Elevation Capital Appoints New Operating Partner
Elevation Capital, previously known as SAIF Partners, has made a strategic move by appointing a new operating partner. The venture capital firm, which is based in India, has been steadily expanding its operations and this appointment is aimed at further strengthening its capabilities.
The identity of the new operating partner remains undisclosed, but it is known that they are the founder of two of Elevation Capital's portfolio companies. The specific roles and responsibilities of the new partner within the firm are not detailed, but their appointment is a testament to Elevation Capital's focus on leveraging experienced entrepreneurs in its operating team.
Elevation Capital has a impressive portfolio, having backed over 200 companies, including Paytm, Swiggy, Meesho, Urban Company, and Acko. The firm's investment strategy seems to be paying off, as it aims to grow the Assets Under Management (AUM) of Mahaveer Finance, a portfolio company of Elevation Capital, fivefold with new plans.
Elsewhere in the world of venture capital, Ant Group, a Chinese company, has announced its plans to sell its remaining stake in Paytm. This move comes after PropTiger, another portfolio company of Elevation Capital, was sold at a lower price than its previous valuation of over $200 million.
Meanwhile, it appears that other Private Equity (PE) and Venture Capital (VC) firms in India are also enhancing their operating teams. The context or nature of the funding for companies like Jeh Aerospace, TurboHire, and GameRamp, however, remains unspecified. The funding status or investment round of these companies is also not provided.
In conclusion, Elevation Capital's appointment of a new operating partner signals a focus on strengthening its operations and leveraging experienced entrepreneurs. The firm's strategy seems to be paying off, as it continues to support a diverse portfolio of companies in the Indian market.
The new operating partner at Elevation Capital, known for founding two of the firm's portfolio companies, will aid in fortifying the venture capital firm's business operations. With a focus on finance and technology, this experienced entrepreneur will contribute to Elevation Capital's goal of growing the AUM of Mahaveer Finance, a portfolio company.
Elevation Capital's expansion in experienced talent for its operating team mirrors the strategies of other Private Equity and Venture Capital firms in India, highlighting a growing trend in the sector.
