Elevation Capital, a venture capital firm that backs technology startups as well as larger companies across sectors, has promoted two of its executives to the position of partner.
Vaas Bhaskar and Chirag Chadha, who were previously principals at the VC firm, have been named partners, Elevation Capital said in a statement.
The two join the current investment team of Ravi Adusumalli, Mukul Arora, Mridul Arora, and Mayank Khanduja, alongside Ramanuj Gopalan, Vivek Mathur, and Vaibhav Goel from the Founder Success team.
The firm has also elevated Ashray Iyengar to principal from vice president.
“The promotions of Vaas, Chirag, and Ashray are a great reflection of their journeys that highlight the perseverance and vision that fuel our mission and reinforce our commitment to nurturing talent,” said Adusumalli, co-managing partner, Elevation Capital. “We recognize that true partnership goes beyond just funding and includes providing strategic guidance, operational support and much more.”
Elevation, which counts names such as Paytm, Swiggy, Meesho, Urban Company, Acko, Mamaearth in its portfolio, is currently investing out of its eighth India-focused fund that it closed in 2022. The fund is its largest investment vehicle for India till date, with a corpus of $670 million.
Chadha joined Elevation in 2017 as an analyst while Bhaskar became a part of the VC firm in 2018.
Chadha focuses on sectors such as consumer tech and brands. He has driven investments in companies such as BlissClub, Chaayos, Comet, Country Delight, Mosaic Wellness, SUGAR, The Souled Store, and Wakefit, among others. Bhaskar looks after fintech investments. Some of his investments include Dezerv, Probo, Frnd, Turnip, Vegapay, Flobiz, Sahi, and Strata.
Iyengar was a part of the founding team at fintech unicorn Cred and worked across product, business, and strategy roles. He previously was an analyst at Nexus Venture Partners focusing on seed and Series A investments. At Elevation, he looks after investments across consumer tech and fintech sectors.
