India, 11th January 2022: Elevation Capital today announced that Mukul Arora has been promoted to Co-Managing Partner alongside Ravi Adusumalli. Mukul 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 resulting in him being a highly sought after investor.
An alumnus of IIM Lucknow, Mukul joined Elevation in 2010 and previously worked with McKinsey. Commenting on Mukul’s promotion, 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. I have a tremendous amount of respect for Mukul’s integrity, intelligence, work ethic, and commitment to making Elevation successful. I am thrilled to have him join me as Co-Managing Partner.”
In his statement, Mukul 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. This is a very exciting time and I am glad to have the opportunity to work alongside Ravi and an outstanding team, and lead Elevation into playing an indispensable role in India’s technology growth story. Our number one goal is to be the most loved fund amongst founders. We will continue to partner with founders from day 1, work in the trenches with them and help build phenomenal companies.”
Ravi also shared, “As a firm, we couldn’t be more excited about the opportunity ahead for startups in India. It’s clear that over the past couple of years, India has hit an inflection point and we believe that the best is yet to come. We have been early investors in companies that are building India-first solutions like Paytm, Swiggy, Urban Company, Meesho, Unacademy, ShareChat, NoBroker, and Spinny, and will continue to look to partner with disruptive founders at their Seed and Series A stages.”
About Elevation Capital
Elevation Capital is a leading venture capital firm that provides seed and early-stage capital for emerging companies in India. Elevation Capital has been investing in India since 2002 and is currently investing out of its seventh pool of capital. The firm is led by Co-Managing Partners Ravi Adusumalli and Mukul Arora, along with three Managing Directors Mridul Arora, Deepak Gaur and Mayank Khanduja. The firm has invested in over 150 companies across Consumer Internet, SaaS, Fintech, D2C, Edtech, Healthtech, and Web3/Crypto, and has offices in Bengaluru, Gurgaon, and Salt Lake City.