It gives us immense pleasure to announce the promotions of Vaas Bhaskar and Chirag Chadha to Partners, a significant milestone for Elevation Capital. This moment not only marks a personal achievement for these exceptional individuals but also reinforces our commitment to nurturing talent and strengthening our position as India's leading venture capital firm. We are also excited to announce Ashray Iyengar’s elevation to Principal.

With Vaas and Chirag joining Ravi, Mukul, Mridul, and Mayank in the partnership on the investment side, alongside Ramanuj, Vaibhav, and Vivek from our Founder Success team, our partnership is now nine-member-strong and more committed than ever to our mission. We're here to back audacious founders building the ideas of the future, supporting them every step of the way as they scale and build lasting organizations.

Chirag’s journey with Elevation is nothing short of inspirational. Joining us as an Investment Analyst over seven years ago, Chirag has risen through the ranks, becoming one of India's youngest VC partners today. His focus on Consumer Tech & Brands has led to some of our most exciting investments, like BlissClub, Chaayos, Comet, Country Delight, Mosaic Wellness, SUGAR, The Souled Store and Wakefit, among others.

Chirag's infectious optimism and boundless energy remind us daily why we're in this business. His impact on our portfolio companies has been transformative. His radical honesty, coupled with a sharp attention to detail, has become a hallmark of his approach. Founders have come to deeply appreciate his clear-cut guidance, which often serves as a north star in challenging times. He is unafraid to voice difficult truths when necessary. His ability to cut through noise and focus on what truly matters has made him an invaluable asset to our founders, helping them navigate complex decisions with clarity and confidence. It's this voice of reason, backed by deep analytical rigor that Chirag brings to our partnership with founders. His dedication to Elevation is unparalleled, consistently going above and beyond to shape our culture and vision.

Vaas joined us in 2018 and has since become a cornerstone of our Fintech & Financial Services investments. His portfolio includes companies likeDezerv, Probo, Frnd, Turnip, Vegapay, Flobiz, Sahi and Strata, among others.

What sets Vaas apart is his entrepreneurial approach to every aspect of his work. He has built one of India's strongest early-stage fintech teams, consistently imagining the future of what's possible in financial services and helping founders bring their innovative ideas to life. But his impact extends far beyond our internal operations. Having had a front-row seat to the sea change in India's fintech landscape over the past decade, Vaas has accumulated a wealth of critical knowledge in this complex and vast sector. He leverages this expertise to work in the trenches with founders, giving them an unparalleled edge to break through in the crucial early stages. It's been gratifying to see him become an incredible thought partner to our founders, providing deeply researched and authoritative views on all things fintech. His ability to synthesize market trends, regulatory changes, and technological advancements into actionables has become invaluable to the entrepreneurs we back. Vaas asks the toughest questions and constantly challenges us to think deeper and do better as a firm.

We're equally thrilled to announce Ashray's promotion to Principal. He joined Elevation just over a year ago as a Vice President, focusing on consumer and fintech investments, and has quickly become the fresh, dynamic voice in the room we've always sought. Our history with Ashray goes back many years, even predating his impressive five-year tenure as a Founding Team member at CRED. When the opportunity finally arose to work together, we knew we had found a perfect addition to our team.

Ashray's impact has been immediate and profound. He brings a unique perspective that challenges our established assumptions, often uncovering new angles in our deal evaluations that we might have otherwise overlooked. His ability to push through high-conviction views demonstrates the kind of intellectual courage and foresight that has now become invaluable for us. His past experiences give him a founder's insight that resonates deeply with the entrepreneurs we partner with, allowing him to offer nuanced, practical advice that goes beyond theoretical frameworks.

The promotions come at a pivotal time for Elevation. In 2022, we raised our eighth fund of $670 million, reaffirming our commitment to backing India's most audacious founders. This fund allows us to provide even greater support to exceptional entrepreneurs, with larger initial investments and continued backing throughout their journey.

Our portfolio now boasts over 200 companies, including 14 unicorns and 9 IPOs. We've been early backers of category leaders such as Paytm, Swiggy, Meesho, ShareChat, and Urban Company, among others.

Our success lies not just in the capital we provide, but in our unwavering commitment to portfolio services. We believe that true partnership goes beyond funding, encompassing strategic guidance, operational support, and access to a powerful network. This holistic approach to venture capital has been a key differentiator for Elevation, and with Chirag and Vaas as Partners, and Ashray as a Principal, we're poised to take this support to new heights. Their unique perspectives, deep expertise, and founder-first approach will be instrumental as we continue to identify and nurture the next generation of transformative companies.

Congratulations to Chirag, Vaas, and Ashray on their well-deserved promotions. Your journey with Elevation embodies all the values we hold dear. We're excited to see the impact you'll make in your new roles.

To our founders, both current and future: Our commitment to you is stronger than ever. We're here to support your boldest visions, to be your partners from day one, and to help you build lasting, successful companies.

Onwards and upwards! The best is yet to come for Elevation, for our founders, and for the Indian startup ecosystem.