Elevation Capital's new $400 million fund targets late-stage tech startups
Elevation Capital is launching a new $400 million fund called Elevation Holdings.
This move is all about backing tech-focused consumer and financial startups that are almost ready to go public—on top of their existing early-stage fund worth $670 million.
Fund focuses on investing in profitable or near-profitable companies
Elevation Holdings plans to invest $20-50 million each in about 10-15 companies that are either already profitable or have a clear path there within three years.
The idea is to stick around long-term—sometimes over a decade—and use their venture know-how to help these startups thrive even after hitting the stock market.
Fund aims to bridge funding gap for late-stage startups
With private funding for late-stage startups slowing down, more companies are eyeing IPOs.
Elevation has already backed big names like Paytm, Swiggy, Meesho, Urban Company—and recently invested in Spinny through this new fund.
They'll keep supporting both their own portfolio and other promising startups aiming for the public markets.