India: SAIF Partners rebrands as Elevation Capital, raises $400m for Fund VII

SAIF Partners, which has close to $2 billion in assets under management, has been renamed as Elevation Capital. Along with the change in brand identity, Elevation Capital also announced that it has raised $400 million as a part of its India-focussed ‘Fund VII’, through which it looks to make 25-30 investments, over the next 2-3 years. The VC firm will deploy the new fund, by the last quarter of 2020, with no plans to fund startups in the South-Asian market.