Amit Aggarwal to quit Elevation Capital after four years

Entrackr · 1m

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.