Elevation Capital

“And on the quantum, we were actually not planning to raise such a big round. We were planning to really raise a little lesser, close to our 25 to 30. Million round, but it just happened that when we started having conversations it everything that we were just …”

“So when Elevation committed, it was back in March, we had just had a million plus registered users on the platform.”

“Like, the day before Elevation put money in the company, Manipal Hospital is opposite. We signed the term sheet. I went to the hospital that night, and we were doing the diligence literally day after, the day after that.”

“I think Mukul's track record even there is exceptionally good. I think he's on the board of some seven or 10 unicorns, first cry, swiggy an academy on this, the whole list of them”

“See, we don't generally manage stats like this, but I think I would say if I look at the funnel, if I'm meeting a hundred companies, I think we probably spend more time on somewhere between 10 to 20. We will do more deeper evaluations. And let's say if we spen…”

“The difference between a company with a half a billion outcome and a ten billion outcome is just purely the hunger, ambition, and fearlessness of the founder.”

“I mean, a lot of people also passed Anthropic at Seed and Series A and Series B and Series C. For them, Anthropic was very expensive.”

“If we produced a handful of winners, I see no reason why we should have many, many more in the next 10 years, right? So the first part of the thinking is, hey this corridor is really going to prosper.”

“We've actually now built a full AI driven suite to do a lot of our you know, tracking and things like that.”

“If I meet a hundred companies in a month, I mean, I would say there's at least 30, 35.”

“So a company called Cynthia labs they sell into pharma commercial and, you know, Started with some voice AI, but actually our full suite of products for the pharma commercial use case. And this was, I think, a lot more of a founder bet than anything else becau…”

“I think we must have talked to at least 30 to 35 customers of Portkey and their competitors to truly understand the space.”

“These outliers are created not because of the founder checked all the boxes, but because the founder was just 10 x better at certain things.”

“We are by nature a very selective fund. So what that means is oftentimes we look for both the found, the team's pedigree as well as the thesis and our conviction around all of it to truly drive conviction far more at obviously series A where you have more proo…”

“Like whether a kid is moving from you know, New Jersey or Georgia or Bangalore, I mean, they have the scale skill set and they are coming here with the same network. So from that perspective, I don't think founders are at a disadvantage of any kind.”

“At the end of the day, what really drives that conviction is that direct one-to-one interaction with the founders, and if we see that founder truly growing in every meeting, and, you know, every time you meet them, they have a new set of answers, and you feel …”

“The parts which I think I would say we are less excited about. Is generally things around the SDLC right now. Because the challenges in SDLC, you're in the way of anthropic and open AI. So hard to underwrite anything on what direction they'll take. And honestl…”

“A fifty billion dollar outcome doesn't look like a fifty billion dollar at seed. It probably looks like a half a billion dollar outcome. And then you'll find that, oh my God, this is continuing to gather momentum and it is much bigger than it is.”

“The, in the Salesforce ecosystem and the ServiceNow ecosystem, there's so much development happening. Those guys are trying to go more horizontal. So there's more opportunity for new players to emerge.”