India: SAIF Partners rebrands as Elevation Capital, raises $400m for Fund VII

India: SAIF Partners rebrands as Elevation Capital, raises $400m for Fund VII

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SAIF Partners, which has close to $2 billion in assets under management, has been renamed as Elevation Capital. Along with the change in brand identity, Elevation Capital also announced that it has raised $400 million as a part of its India-focussed ‘Fund VII’, through which it looks to make 25-30 investments, over the next 2-3 years. The VC firm will deploy the new fund, by the last quarter of 2020, with no plans to fund startups in the South-Asian market.

The venture capital (VC) firm which started its India practice in 2001 and was an abbreviation for ‘Softbank Asia Infrastructure Fund’. The fund has been considering changing its identity for a while now, to differentiate itself from its Softbank-roots, which ceased to be a Limited Partner (LP) in the firm, since 2004.

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