{"id":392086,"date":"2025-09-02T14:23:13","date_gmt":"2025-09-02T14:23:13","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/392086\/"},"modified":"2025-09-02T14:23:13","modified_gmt":"2025-09-02T14:23:13","slug":"elev8-venture-partners-marks-160-million-close-of-maiden-fund","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/392086\/","title":{"rendered":"Elev8 Venture Partners marks $160 million close of maiden fund"},"content":{"rendered":"<p><a href=\"https:\/\/economictimes.indiatimes.com\/topic\/elev8-venture-partners\" target=\"_blank\" rel=\"noopener\">Elev8 Venture Partners<\/a>, a <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/venture-capital\" target=\"_blank\" rel=\"noopener\">venture capital<\/a> firm founded by former Kae Capital partner Navin Honagudi, has closed its maiden fund at Rs 1,400 crore (around $160 million) to invest in companies in consumer internet, <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/enterprise-software\" target=\"_blank\" rel=\"noopener\">enterprise software<\/a>, and <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/fintech\" target=\"_blank\" rel=\"noopener\">fintech<\/a> sectors.<\/p>\n<p>The fund counts institutions from <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/south-korea\" target=\"_blank\" rel=\"noopener\">South Korea<\/a>, Hong Kong and India among its backers, alongside sovereign funds, family offices and several unicorn founders. South Korea-based KB Investment is the anchor limited partner, while Self Reliant India Fund has also contributed capital to the fund.<\/p>\n<p>About a third of the corpus has already been deployed.<\/p>\n<p>Elev8, which focuses on <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/growth-stage-investments\" target=\"_blank\" rel=\"noopener\">growth-stage investments<\/a>, plans to deploy the remaining two-thirds of the fund over the next 12\u201318 months. It will invest $10\u201315 million each in 12\u201314 startups valued between $100 million and $300 million, managing partner Honagudi told ET.<\/p>\n<p>Its portfolio includes online astrology services startup <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/astrotalk\" target=\"_blank\" rel=\"noopener\">Astrotalk<\/a>, identity verification firm Idfy, wealthtech company Smallcase, on-demand logistics platform Porter and fintech startup Snapmint. According to Elev8, these firms are growing at over 30% annually while remaining profitable.<\/p>\n<p>\u201cWe do not look at investing in companies with binary risk, like hit-or-miss-like gaming companies. We typically look to back only profitable companies, and companies which have existing institutional investors because then corporate governance would not be a challenge,\u201d said Honagudi.<\/p>\n<p>The fund received its AIF Category II licence from markets regulator Securities and Exchange Board of India in 2022. KB Investment\u2019s startup portfolio in India includes PharmEasy, Spinny and Fareye, Vedantu, Kuku FM, Rupeek, Rivigo, Cashify and Tracxn. KB Investment is one of the 13 subsidiaries managed by the KB Financial Group, a financial services provider in South Korea.<\/p>\n<p>Several venture capital firms have announced fund closures this year. For instance, Bessemer Venture Partners closed its second dedicated India fund at $350 million in March, aiming to invest in startups across artificial intelligence (AI), software-as-a-service, fintech, digital health, consumer brands and cybersecurity. <a rel=\"dofollow noopener\" href=\"https:\/\/economictimes.indiatimes.com\/accel-ltd\/stocks\/companyid-8903.cms\" target=\"_blank\">Accel<\/a> also closed its eighth India-focused fund in January, raising $650 million in investor commitments.<\/p>\n","protected":false},"excerpt":{"rendered":"Elev8 Venture Partners, a venture capital firm founded by former Kae Capital partner Navin Honagudi, has closed its&hellip;\n","protected":false},"author":2,"featured_media":392087,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3094],"tags":[35896,135805,51,135803,135802,134071,3134,3672,135804,525,16,15,3141],"class_list":{"0":"post-392086","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-accel","9":"tag-astrotalk","10":"tag-business","11":"tag-consumer-internet-investments","12":"tag-elev8-venture-partners","13":"tag-enterprise-software","14":"tag-entrepreneurship","15":"tag-fintech","16":"tag-growth-stage-investments","17":"tag-south-korea","18":"tag-uk","19":"tag-united-kingdom","20":"tag-venture-capital"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115135158871712553","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/392086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=392086"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/392086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/392087"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=392086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=392086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=392086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}