SAIF Partners raises $400 mn for new fund, rebrands as Elevation Capital

Eighteen-year-old venture capital firm SAIF Partners has raised $400 million for its seventh fund and rebranded itself as Elevation Capital. The fund is larger than its previous three funds which have consistently been $350 million. SAIF Partners' prominent investments include Swiggy, Paytm and Unacademy. The firm added that their new name communicates their "investment ethos a lot better".