<article>Southeast Asia-focused venture capital firm Elev8.vc is set to hit the final close of its debut fund at $15 million by July, founder and managing director Aditya Mathur told DEALSTREETASIA.</article>

Southeast Asia-focused venture capital firm Elev8.vc is set to hit the final close of its debut fund at $15 million by July, founder and managing director Aditya Mathur told DEALSTREETASIA.
The firm achieved the first close of the fund at $10 million a few months back.
“Given the interest the fund has received, Elev8.vc has decided to increase its subscription limit, but will hard cap it at $15 million,&#8221; he added.
The Singapore-based VC firm invests in early-stage startups with a deep-tech and B2B focus. Its sectoral themes include niche verticals like autonomous vehicles, communications, medtech, AI &amp; IoT.
Elev8.vc has invested in mapping and localisation platform Civil Maps (where Ford Motors and SAIC are co-investors); US-based smart electric scooter-maker Scooterson (along with manufacturer of Apple devices Arsat Industries); healthtech startup Medo.ai; and, AI platform for social commerce Jumper.ai.
Operating at the seed-stage, it typically enters a startup as the first investor. Elev8.vc, which cuts cheques of $250,000 and above per deal, is looking to back 15-20 startups from its debut vehicle.
Talking about the fund&#8217;s Singapore and SE Asia focus, Mathur said, “we do invest in other regions where we have unique relationships with founders and co-investors.”
Elev8.vc has secured the backing of limited partners who range from family offices with regional footprint, top management executives in large technology companies and angel investors.
Mathur has been in the technology space, primarily associated with sales and business development for niche products. Prior to setting up Elev8.vc, he was Asia regional head at IoT/communications startup Jasper Wireless which was subsequently acquired by Cisco.
He is also counted as a prominent angel investor in the region, with one of his recent exits being his investment in Singapore’s fourth telco, Circles.Life.
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Southeast Asia-focused venture capital firm Elev8.vc is set to hit the final close of its debut fund at $15 million by July, according to its founder.

SE Asia-focused Elev8.vc to close $15m debut fund by July

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SE Asia-focused Elev8.vc to close $15m debut fund by July

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