Ravi Adusumalli, the managing partner at Elevation Capital (formerly known as SAIF Partners) said India could see at least ten internet companies going public in 2-3 years.

Elevation’s India portfolio includes several billion-dollar valuation startups and well-known brands like Swiggy, Paytm, UrbanClap (now Urban Company), Firstcry, Unacademy, and BookMyShow.

Talking about Indian companies, Ravi Adusumalli said,

“India is long overdue for companies to go public. There are enough compelling businesses that will go public in the next 2-3 years. We would probably see 3-5 companies from the Elevation portfolio (going public). The number is probably higher than 10 (for the ecosystem) — even 15, which is fantastic because it’s much needed for India.”

Elevation has closed its seventh fund of $400 million to double down on Indian companies, taking total assets under management to $2.4 billion.

Adusumalli also talked about COVID-19 and its effect on Indian Startups.
Adusumalli said,

“Some of the burn rates, frankly, were just stupid 18 months ago. In the last ten years, the down periods have been very short — 3-4 months — and, as a result, there is a lot of fat built up in the system. There was too much focus on growth at any cost with the capital being relatively easier to raise. What’s happened now is Covid-19 is more prolonged — a 12-24 months’ situation. Everyone, CEOs and CFOs, are proactive on where they can become lean as a company and aspire to become profitable.”

Need legal assistance for your startup? Just contact us.

Follow us and connect with us on Instagram, Facebook, and LinkedIn.