- Greylock has raised its eighteenth fund, a $1.5 billion vehicle aimed at early-stage startups.
- Elevation Capital has closed a $500 million fund, its ninth vehicle, focusing on seed and Series A investments.
- Greylock's managing partner, Asheem Chandna, stated that the next trillion-dollar companies will emerge in the coming years despite recent market fluctuations.
- Elevation's fund will target AI-led businesses in sectors like healthcare, education, and financial services.
- The new fund from Elevation Capital will also focus on deeptech areas including space, defence, robotics, energy, and precision manufacturing.
- The venture capital landscape in India is becoming more selective, with a shift towards early-stage investments as late-stage valuations correct.
- Elevation Capital's new fund indicates a recalibration of investor appetite, focusing on early-stage companies rather than competing for mature, high-priced rounds.
- For Indian founders, Elevation's fund could provide wider access to institutional capital as enterprise AI adoption progresses.
- The closing of Elevation's fund reflects a trend in India's startup financing market becoming more barbell-shaped, with large capital pools for select pre-IPO companies and renewed interest in early-stage AI and deeptech.
Greylock's $1.5 billion fund marks its eighteenth venture, targeting early-stage startups amid a booming AI landscape. Managing partner Asheem Chandna noted, “What prior tech waves have shown us is that a few years after the start of a wave is when the largest companies get built.”13
Meanwhile, Elevation Capital's $500 million fund focuses on seed and Series A investments in AI and deeptech sectors, including healthcare and education. This fund aims to support startups addressing complex operational challenges and global AI software companies emerging from India.25
Elevation's strategy reflects a recalibration in investor appetite, shifting from late-stage investments to early-stage opportunities, as the Indian startup ecosystem evolves. The firm has previously backed notable companies like Paytm and Swiggy, enhancing its position in the venture landscape.
As the market becomes more selective, this fund could provide crucial early access to institutional capital for Indian founders, especially as enterprise AI transitions from pilot projects to full-scale production workflows. The closing of Elevation's fund signals a growing interest in early-stage AI and deeptech ventures, amidst a barbell-shaped financing market where large capital pools remain for select pre-IPO companies.9
“Greylock managing partner Asheem Chandna said the next trillion-dollar companies will be built in the coming years, as the firm raises its 18th $1.5B fund. Elevation Capital, which previously backed Paytm and Swiggy, closed a $500M ninth vehicle focused on seed and Series A rounds in AI, deeptech including space and defence, and India-first startups in healthcare, education, and financial services.”
CXO Digitalpulse
