Investment firm Elevation Capital appoints founder of its portfolio companies as an operating partner
Elevation Capital, the private equity firm previously known as SAIF Partners, has made a strategic move by appointing a founder of two of its portfolio companies as an operating partner. The specific individual's name is not disclosed, but their transition from portfolio company founder to operating partner within the firm indicates a strong commitment to the company's growth.
The appointed operating partner's previous ventures have been backed by Elevation Capital, although the identities of the portfolio companies remain undisclosed. Elevation Capital has a diverse portfolio, having backed over 200 companies, including Paytm, Swiggy, Meesho, Urban Company, Acko, and others.
In addition to Elevation Capital, Kedaara Capital and Cornerstone Capital are also beefing up their operating teams in India. The nature of the expansion is not specified, but it suggests a focus on strengthening their presence and support for their portfolio companies.
Mahaveer Finance, a non-banking finance company backed by Elevation Capital, aims for a fivefold growth in its Asset Under Management (AUM). PropTiger, a real estate technology company, was previously valued at over $200 million, but the current valuation is not available.
Ant Group is planning to sell its remaining stake in Paytm, but the specific details about the sale are not provided. The article does not mention any other changes or updates related to the companies mentioned, apart from the expansion of Kedaara and Cornerstone's operating teams and Mahaveer Finance's growth plans.
[1] The exact timeline of the appointment is not provided in the text.
The appointed operating partner, whose portfolio companies received backing from Elevation Capital, has a history rooted in both business and technology. Elevation Capital, with its extensive portfolio that includes companies such as Paytm, Swiggy, and Mahaveer Finance, continues to expand its reach in the Indian market through strategic hires.
