Venture Capital firm Elevation Capital on Tuesday announced that Mukul Arora has been promoted to co-managing partner alongside Ravi Adusumalli. Arora 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.
An alumnus of IIM Lucknow, Arora joined Elevation in 2010 and previously worked with McKinsey. “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,” Adusumalli 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,” Arora stated.
As a firm, we couldn’t be more excited about the opportunity ahead for startups in India, Adusumalli added. “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,” he said.