India, July 14 -- VC firm Elevation Capital has launched Fund IX with a target corpus of $500 Mn to back Indian startups across consumer tech, consumer brands, fintech and financial services, enterprise AI, frontier tech and healthcare.

The new fund will primarily invest in seed and Series A startups building AI-first products amid what the firm described as the ongoing AI platform shift. Elevation Capital said it expects AI to create a new generation of technology startups across sectors.

The VC firm said it will continue investing across its existing sector verticals while increasing its focus on AI-led opportunities. It also described India as one of the world's largest AI adoption markets, citing the country's expanding digital econ...