Elev8 Venture Partners
Elev8 Venture Partners backs proven Indian technology businesses entering their next growth phase.
Overview
Elev8 Venture Partners is a Bengaluru-based growth-stage venture capital firm founded in 2022. The firm backs technology and technology-enabled businesses that have moved beyond product-market fit and are entering a larger phase of expansion. Its portfolio spans fintech, consumer internet, SaaS, B2B platforms, logistics, wealthtech and consumer businesses.
Elev8 operates Elev8-Capital AIF, a SEBI-registered Category II Alternative Investment Fund. Its investment approach centres on companies with established revenue, measurable unit economics and a clear path to scale.
Investment Focus and Stage
Elev8 primarily invests at the Series B and Series C stages, with individual investments generally ranging from $10 million to $15 million. The firm looks for businesses that have already demonstrated product-market fit, established institutional backing and the ability to grow while maintaining healthy fundamentals.
Its core areas include fintech, SaaS, B2B platforms and consumer brands. AI is increasingly present across its portfolio, but Elev8 treats it as a capability that can strengthen businesses rather than as a standalone investment sector.
The firm takes a growth-investing approach, seeking companies that have moved past the early experimentation stage and are preparing for larger expansion rounds or eventual public-market opportunities.
Fund Size and Portfolio
Elev8 closed its maiden India-focused fund at ₹1,400 crore, equivalent to approximately $160 million. The fund was initially announced with a $200 million target and is backed by institutional investors, family offices, high-net-worth individuals and founders. South Korea's KB Investment served as the anchor investor, while Self Reliant India Fund also participated.
The portfolio includes IDfy, Astrotalk, smallcase, Porter, Snapmint, Fullife Healthcare, Dovetail Capital and River Mobility. Elev8 invested in five companies from its maiden fund during its initial deployment phase, including Astrotalk, IDfy, smallcase, Porter and Snapmint.
The firm led smallcase's $50 million Series D round and later invested ₹300 crore in Fullife Healthcare. Its portfolio companies span identity verification, wealthtech, logistics, consumer internet, fintech and health and wellness.
Leadership
Navin Honagudi is Managing Partner at Elev8 Venture Partners. He has more than 18 years of investment experience and previously co-founded Kae Capital, where he backed companies including HealthKart, Porter, 1mg and Zetwerk. Earlier in his career, he held roles at Reliance Venture Asset Management and Darashaw & Co.
Kavish Kothari is Partner at Elev8 and brings more than 16 years of experience across private equity and investment banking. His work focuses on partnering with founders on business growth and execution.
The firm's investment team brings more than 45 years of combined investing experience across India's technology and startup markets.