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Schroder Fund enters Ixigo via Elevation stake acquisition

EntrackrEntrackr · 14d ago
Schroder Fund enters Ixigo via Elevation stake acquisition
Medial

Schroder Fund enters Ixigo via Elevation stake acquisition Elevation Capital (formerly SAIF Partners) sold Rs 135 crore ($15.7 million) worth of shares in Ixigo parent Le Travenues Technology via block deals on Thursday. This partial exit is estimated to have delivered a 25X return on investment for the venture capital firm. According to a filing accessed from the Bombay Stock Exchange (BSE), Elevation Capital offloaded 75.48 lakh shares at an average price of Rs 179.25 apiece. At the same time, global investor Schroder Fund made its entry into Ixigo by acquiring 53.68 lakh shares worth Rs 96.8 crore. Schroder Fund is a British multinational asset management firm with a presence in 37 locations across Europe, the Americas, the Middle East, and Africa. At present, it reportedly manages assets worth around $950 billion. Notably, the fund holds significant investments in Indian companies, particularly HDFC Bank and ICICI Bank, which together make up around 6–7% of its total portfolio. In the startup space, Schroder is one of the largest stakeholders in e-commerce-focused packaging company Bizongo and also participated in Agrostar’s $70 million Series D round. It has also backed Lenskart, FirstCry, Cultfit, Peel Works and Miko, among others. As of FY25, Elevation Capital held 5.46 crore shares in Ixigo (14.02%). After the partial sale, its stake will drop to 12.08%. This records Elevation’s fourth partial exit from Ixigo. Most recently, it sold 21.5 lakh shares for Rs 38.27 crore (about $4.5 million). Earlier, the firm had offloaded shares worth Rs 100 crore ($12 million) in a pre-IPO secondary deal and Rs 180 crore ($21 million) during the IPO. For the quarter ended March 2025, Ixigo reported a 72% year-on-year increase in revenue to Rs 284 crore, while profit rose 2.4X to Rs 17 crore. Its revenue grew 39% to Rs 914 crore, but net profit fell 18% to Rs 60.2 crore in FY25. At the close of trading on Thursday (June 19), Ixigo’s shares were priced at Rs 175, giving the company a market capitalization of Rs 6,885 crore.

Amit Aggarwal to quit Elevation Capital after four years

EntrackrEntrackr · 3m ago
Amit Aggarwal to quit Elevation Capital after four years
Medial

Amit Aggarwal, the Principal at Elevation Capital, has decided to step down after serving four years at the venture capital firm, sources aware of the development told Entrackr. This will be the second exit for Elevation in the past couple of weeks. "Amit Aggarwal is stepping down from his role at venture capital firm Elevation, and it remains to be seen whether he will continue in the investment space, explore entrepreneurial ventures, or take on a leadership role in a different sector,” said one of the sources. During his tenure at Elevation, Aggarwal was focusing on early-stage investments in social, content, and commerce (B2C). Previously, he led strategic planning and operations at Facebook, driving growth for Facebook, Instagram, and WhatsApp in India. Before that, he spearheaded the development of Qubo, a consumer IoT venture under the Hero Group. According to sources, Aggarwal will soon announce his departure from Elevation Capital. Elevation Capital declined to comment on the queries sent last Friday. Recently, Vivek Mathur, Partner and Chief Operating Officer (COO) at Elevation Capital, stepped down after 14 years to pursue advisory and mentorship roles. In December 2024, Capillary Technologies co-founder Krishna Mehra joined Elevation Capital as a partner, leading AI and SaaS investments from Silicon Valley, further strengthening the firm's India-US presence. Elevation Capital launched its early-stage-focused Fund VIII, valued at $670 million, in April 2022. Like Elevation, Peak XV has also experienced consecutive top-level exits over the past year. In 2025, the venture capital firm saw the departures of Shailesh Lakhani, Abheek Anand, and Shraeyansh Thakur, all of whom left after serving for over a decade.

Elevation Capital trims Ixigo stake, clocks 25X return

EntrackrEntrackr · 1m ago
Elevation Capital trims Ixigo stake, clocks 25X return
Medial

Elevation Capital trims Ixigo stake, clocks 25X return Elevation Capital (formerly SAIF Partners) has offloaded 21.5 lakh shares in Le Travenues Technology Ltd, the parent company of travel tech firm Ixigo, for Rs 38.27 crore (around $4.5 million). The partial exit marks a nearly 25X return on its investment. According to a disclosure on the Bombay Stock Exchange (BSE), SAIF Partners sold 21.5 lakh equity shares at Rs 178 each through block deals. This marks Elevation’s third partial exit from Ixigo. The VC firm had earlier sold shares worth Rs 100 crore ($12 million) in a pre-IPO secondary transaction, followed by a Rs 180 crore ($21 million) sell-off during the IPO via the offer-for-sale (OFS) route, together delivering estimated returns of 13X. As of March 31, 2025, Elevation held around 14.2% in Ixigo, down sharply from 23.4% in February 2024. The sell-off comes at a time when Ixigo reported a 72% year-on-year jump in revenue to Rs 284 crore in Q4 FY25, while its profit rose 2.4X to Rs 17 crore. For the full fiscal year (FY25), the company posted Rs 914 crore in revenue. At the close of today’s trading session (Tuesday, May 19), Ixigo’s shares were priced at Rs 174.6 each, with a total market capitalization of Rs 6,811 crore (approximately $800 million).

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