Elevation Capital, Think Investments launch SPAC for US listing of Indian startups; file for its Nasdaq IPO

Silicon Valley-based seed-stage investment company Think Investments and prominent venture capital firm Elevation Capital, earlier known as SAIF Partners, which has backed startups such as Paytm, Swiggy, Urban Company, ShareChat, etc., have together launched a blank cheque company Think Elevation Capital Growth Opportunities focusing on Indian technology startups. The special purpose acquisition company (SPAC) Think Elevation had filed for a $225 million Nasdaq initial public offering (IPO) this past Friday, according to the US Securities and Exchange Commission filing seen by Financial Express Online. The company’s board comprises Paytm’s Vijay Shekhar Sharma, Dream11 Co-founder Harsh Jain, SoftBank’s former Managing Partner Kabir Misra, and others. The SPAC is led by Founders of Elevation Capital and Think Investments Ravi Adusumalli and Shashin Shah respectively.