Vivek Mathur, partner and chief operating office (COO) at Elevation Capital, has left the venture capital firm after a 14-year stint at the company, which has backed startups such as Swiggy, Unacademy and Meesho, and plans to take on an advisory and mentorship role.
While Mathur, along with partners Ramanuj Gopalan and Vaibhav Goel, was not part of the investment team, he played a key role in Elevation’s Founder Success team, guiding portfolio companies on compliance, regulatory checks, finance team structuring and navigating the IPO stage. He held board position in several portfolio firms including Paytm and Aye Finance.
"These past 14 years have been a true masterclass in investing," Mathur said, announcing his exit on social media, reflecting on his time at Elevation, where he played a key role in portfolio success and board-level engagements.
Now transitioning to an advisory and mentorship role, Mathur plans to work with early-stage startups in D2C, agritech, climate and defence tech sectors, helping them scale from inception to IPO by refining growth strategies and operational efficiencies.
"I am excited to mentor a new cohort of promising founders that are building ventures poised for rapid growth. With rapid growth comes the need for strategic mentorship that could help make the vision of these founders come true. I'm looking forward to being a thought partner all the way from inception to IPO - whiteboarding, working on growth plans, identifying operating efficiencies and charting paths to profitability!," he said.
Changes at Elevation Capital
Mathur’s departure comes amid a broader leadership reshuffle at Elevation Capital. In December, Capillary Technologies co-founder Krishna Mehra joined the firm as a partner to lead its AI and SaaS investments from Silicon Valley.
In October, the VC firm promoted Vaas Bhaskar and Chirag Chadha to partner roles, focusing on fintech and consumer tech, respectively. Ashray Iyengar was promoted to principal partner.
The newly promoted partners joined the existing network of partners, which includes Ravi Adusumalli, Mukul Arora, Mridul Arora, and Mayank Khanduja, alongside Gopalan and Goel from the Founder Success team.
Elevation Capital, which has backed over 190 companies, including Swiggy, Unacademy, Meesho, and Acko, Urban Company, MakeMyTrip, FirstCry — had closed its eighth India-dedicated fund at $670 million in April 2022.
Other venture firms, too, have seen leadership exits recently. Peak XV Partners saw the departure of Shailesh Lakhani and Abheek Anand, both long-time managing directors. While they are stepping away from full-time investing roles, they will continue to hold select board positions.
Similarly, 100X.VC Co-founder and Partner Shashank Randev exited the firm in October, signaling continued movement in the Indian VC space.
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