• Elevation Capital has divested nearly half of its stake in Arman Financial Services Ltd., a financial services company. This divestment has resulted in the VC firm pulling out approximately Rs 180 crore to date.
• Elevation initially invested Rs 50 crore in Arman Financial in 2018 through compulsorily convertible debentures, which later converted into a 24.84% stake. Despite a recent slip in share price, Elevation is still realizing a high return on its investment.
• The realized internal rate of return (IRR) for Elevation's investment is estimated to be around 50% in rupee terms, significantly exceeding the typical 20% benchmark for alternative investment firms. In dollar terms, the returns are around 42-44%.
• Arman Financial Services operates in two-wheeler financing, MSME lending, and microfinance, with its microfinance division managed by its subsidiary, Namra Finance Ltd. The company's consolidated assets under management have shrunk, and it reported a net loss in the first half of the current fiscal year.

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​Domestic venture capital firm Elevation Capital, which typically makes early-stage bets but forayed into late-stage .........

Elevation Capital spins a multi-bagger from a low-key portfolio bet

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​Domestic venture capital firm Elevation Capital, which typically makes early-stage bets but forayed into late-stage investing with the launch of a...

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