Elevation Capital (formerly SAIF Partners), has promoted Mukul Arora to the post of Co-Managing Partner, the company said in a statement on Tuesday.
Arora has been with the firm for the last 11 years, and has led or co-led Elevation’s investments in FirstCry, Meesho, Spinny, Swiggy, Unacademy, and Xpressbees.
Arora joined Elevation Capital as an associate in 2010. Prior to that, he worked for McKinsey. An IIM Lucknow alumnus, he focuses on early-stage consumer technology and SaaS investments, the statement said.
“I was very fortunate to join Elevation at a time when the foundation for India’s tech ecosystem was being built. Now, we’re at a point where, over the next 10 years, technology companies will lead India’s growth. Our number one goal is to be the most loved fund amongst founders. We will continue to partner with founders from Day 1,” Arora said.
Co-Managing Partner Ravi Adusumalli said, “Mukul has been a core part of Elevation from the day we started our India-dedicated funds, and has been instrumental in some of the most successful investments for Elevation. He enjoys strong support across all the founders in the portfolio, and has been a role model for the emerging investors at Elevation.”
Elevation has invested in startups like Paytm, Swiggy, Urban Company, Meesho, Unacademy, ShareChat, NoBroker, and Spinny, that are delivering India-first solutions, and Adusumalli noted that the firm will continue to look to partner with disruptive innovators at the Seed and Series A stages.
Elevation Capital has been investing in India since 2002, and is currently investing from its seventh pool of capital. The firm is now led by Co-Managing Partners Ravi Adusumalli and Mukul Arora, along with three Managing Directors Mridul Arora, Deepak Gaur and Mayank Khanduja.
The 20-year-old firm, formerly known as SAIF Partners, rebranded to Elevation Capital in 2020, and closed its eighth successive fund dubbed at $400 million.
The firm has offices in Bengaluru, Gurgaon, and Salt Lake City, and has invested in over 150 startups in the consumer internet, SaaS, fintech, D2C, edtech, healthtech, and web3/crypto segments. It invests in consumer internet, financial services, logistics, enterprise SaaS (software as a service), consumer brands, and B2B (business-to-business) services as Seed and early-stage funding.