Amit Aggarwal Steps Down from Elevation Capital

Amit Aggarwal, currently the Principal at Elevation Capital, has chosen to resign after a four-year tenure with the venture capital firm, as informed by sources close to the situation to Startup Superb. This marks the second high-profile departure for Elevation in a short span of time.

One of the insiders stated that Amit Aggarwal’s exit from Elevation raises questions about his future plans, including whether he will remain in the investment field, pursue entrepreneurial projects, or take on a leadership position in another industry.

Focus on Early-Stage Investments

Throughout his time at Elevation, Aggarwal concentrated on early-stage investments in areas such as social media, content creation, and business-to-consumer commerce. Before joining Elevation, he was responsible for strategic planning and operations at Facebook, where he facilitated growth for platforms like Facebook, Instagram, and WhatsApp in India. Prior to that, he also led the launch of Qubo, a consumer IoT project under the Hero Group.

Sources indicate that Aggarwal is expected to publicly announce his departure from Elevation Capital soon.

Recent High-Profile Exits

Last Friday, Elevation Capital chose not to respond to inquiries regarding this matter. Recently, Vivek Mathur, who served as Partner and Chief Operating Officer at Elevation Capital, also stepped down after a remarkable 14 years to focus on advisory and mentorship opportunities.

In December 2024, Krishna Mehra, co-founder of Capillary Technologies, joined Elevation Capital as a partner to lead investments in AI and SaaS from Silicon Valley, thereby enhancing the firm’s presence in both India and the US.

Elevation Capital debuted its early-stage-focused Fund VIII, valued at $670 million, in April 2022.

Similar Trends in Venture Capital

Elevation Capital is not alone in witnessing a series of top-level departures. Peak XV has also seen several senior exits in the last year, with significant departures including Shailesh Lakhani, Abheek Anand, and Shraeyansh Thakur in 2025, all after over a decade of service.