Elevation Capital Scores Big With ixigo Exit — Here’s How They Turned One Bet Into a Massive Payout
In a market where big wins are rare, Elevation Capital just pulled off one of the most impressive venture capital exits in recent memory. The firm, formerly known as SAIF Partners, has sold another chunk of its stake in online travel platform ixigo, netting a reported 25x return on its investment.
That’s not a typo. A twenty-five-times return.
And the best part? They’re still holding millions worth of shares.
The Blockbuster Deal
In a recent block deal on the Bombay Stock Exchange, Elevation sold about 53.9 lakh shares of Le Travenues Technology Ltd. — ixigo’s parent company — at ₹180 per share, raking in ₹97.4 crore.
The buyer? None other than Schroder International Selection Fund, part of the global investment giant Schroders, which manages nearly $950 billion in assets. Schroders picked up 53.6 lakh shares for ₹96.9 crore, making a clear vote of confidence in ixigo’s long-term value.
The Second Exit in Weeks
This isn’t Elevation’s first recent cash-out from ixigo. Just a few weeks earlier, the firm sold 21.5 lakh shares for ₹38.27 crore.
The pattern is clear: Elevation is taking money off the table, but doing it smartly and gradually, while the market is hot and global interest is high.
Stake Snapshot: What’s Left?
As of March 2025, Elevation held a 14.02% stake, translating to around 5.46 crore shares. After the most recent round of selling, their stake is now approximately 12.08%.
Even after four partial exits, they still own a significant portion of ixigo — and could be looking at more strategic sales ahead.
The 25x Win: How Big Is That?
A 25x return in venture capital is rare. It means the firm multiplied its early investment in ixigo by 25 times — a near unicorn-level outcome for any early-stage investor.
For Elevation, this validates years of patience and support. For the Indian VC ecosystem, it’s a proof point that strong bets on the right startups can deliver blockbuster exits.
Schroders Moves In
The entry of Schroders into the picture is just as important. It signals increasing global interest in India’s tech-driven consumer economy.
A major global fund making a move like this in a public Indian tech stock underlines the confidence foreign investors have in platforms like ixigo — especially those with growing market share, strong unit economics, and a proven path to profitability.
What It Means for Indian Startups
This isn’t just Elevation Capital’s win. It’s a signal to founders, investors, and the broader ecosystem:
- Early-stage capital still works when placed right
- Mature exits are becoming more common on public markets
- Global institutional funds are actively watching and investing in Indian digital brands
The playbook here is simple: Invest early, back consistently, and exit smart.
Final Take: This Is How Venture Capital Wins Are Made
Elevation Capital’s ixigo journey is a masterclass in venture investing. Identify a future category leader early, stay invested through ups and downs, and exit gradually with discipline and timing.
Four partial exits, over ₹135 crore in recent cash-outs, a 25x return — and still more shares left to sell. This is what success looks like in India’s maturing startup landscape.
