Elevation Capital’s Chief Operating Officer (COO), Vivek Mathur, has stepped down after 14 years of leadership at the venture capital firm. Mathur, who played a critical role in supporting Elevation Capital’s portfolio companies, announced his departure via social media. During his tenure, he actively guided startups like Paytm and Aye Finance, helping them navigate regulatory frameworks, ensure compliance, and improve operational efficiencies.
Now transitioning into an advisory and mentorship role, Mathur aims to support early-stage startups across sectors such as D2C, agritech, climate tech, and defence tech. His focus will be on scaling startups from inception to IPO by helping founders refine their growth strategies and streamline operations.
Elevation Capital has also undergone leadership shifts, with new appointments and promotions within its investment and operational teams. The firm, known for backing successful startups like Swiggy, Unacademy, Meesho, and Acko, continues to strengthen its presence in India’s startup ecosystem. As Mathur embarks on this new journey, his vast experience is expected to be a valuable asset for emerging entrepreneurs.
1. Introduction to Elevation Capital
Elevation Capital is one of India’s leading venture capital firms, dedicated to backing early-stage startups and helping them scale into successful businesses. The firm operates on a strong investment philosophy, focusing on innovative business models, long-term growth, and strategic mentorship. With over 190 investments in its portfolio, Elevation Capital has played a vital role in shaping India’s startup landscape.
1.1 Working Model of Elevation Capital
Elevation Capital primarily focuses on seed to Series B investments, providing financial backing, strategic mentorship, and business development support. The firm takes a hands-on approach, partnering closely with founders to build scalable businesses.
1.2 Revenue Model of Elevation Capital
As a venture capital firm, Elevation Capital generates revenue through equity stakes in the startups it invests in. The firm monetizes its investments through exits, including IPOs, mergers, and acquisitions. By strategically investing in high-growth sectors such as fintech, consumer tech, SaaS, and deep tech, Elevation Capital ensures substantial returns for its stakeholders.
1.3 Funding Background and Key Investments
Elevation Capital has successfully raised multiple funds, with its latest being a $670 million India-focused fund in April 2022. The firm has invested in some of India’s most prominent startups, including Swiggy, Unacademy, Meesho, Urban Company, and FirstCry. With a strong focus on high-potential sectors, Elevation Capital continues to shape the future of Indian entrepreneurship.
1.4 Founders and Leadership Team
Elevation Capital was founded by seasoned investors with a deep understanding of the Indian startup ecosystem. The leadership team includes Ravi Adusumalli, Mukul Arora, Mridul Arora, and Mayank Khanduja, among others. The firm has also strengthened its team with the appointment of new partners, such as Krishna Mehra, who leads AI and SaaS investments.
2. Vivek Mathur’s Contribution to Elevation Capital
2.1 Key Responsibilities and Achievements
Vivek Mathur played an integral role in Elevation Capital’s success. As COO, he was responsible for overseeing compliance, financial structuring, and regulatory checks for portfolio companies. He worked closely with founders to streamline operations, enhance financial planning, and navigate the complexities of scaling businesses.
2.2 Board Memberships and Strategic Guidance
Mathur held board positions in several of Elevation Capital’s portfolio companies, including Paytm and Aye Finance. His expertise in financial structuring and regulatory frameworks made him a trusted advisor to startups looking to transition into high-growth phases and eventual IPOs.
3. Future Plans: Advisory and Mentorship
Vivek Mathur is now focusing on mentoring early-stage startups, particularly in the D2C, agritech, climate tech, and defence tech sectors. His goal is to support founders in building scalable and sustainable businesses by refining growth strategies, identifying operational efficiencies, and preparing for IPOs.
4. Recent Changes at Elevation Capital
Elevation Capital has seen several leadership changes in recent months. The firm recently appointed Krishna Mehra as a partner to lead its AI and SaaS investments. Additionally, Vaas Bhaskar and Chirag Chadha were promoted to partner roles, focusing on fintech and consumer tech, respectively. These leadership changes indicate the firm’s continued commitment to expanding its investment capabilities.
5. Learning for Startups and Entrepreneurs
- Strategic Mentorship is Crucial: Having an experienced mentor like Vivek Mathur can significantly impact a startup’s growth trajectory.
- Scaling Requires Strong Financial Planning: Understanding compliance and financial structuring is key to sustainable expansion.
- Sector-Specific Expertise Matters: Focused investments in high-growth sectors like fintech, SaaS, and agritech provide better chances of success.
- IPO Readiness is Essential: Preparing for a public listing early can help startups navigate the complexities of scaling effectively.
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