Paytm-backer Elevation Capital raises $670 mn, its largest India fund

Early-stage investor Elevation Capital, which has backed Swiggy and Paytm, among other Indian startups, has closed its latest India-dedicated fund at $670 million, its largest-ever. Elevation said it would look to deploy the fresh capital over a three-year time frame. It will invest in sectors such as consumer internet, fintech, SaaS, apart from emerging themes such as Web3 and cryptocurrency.