Elev8 Venture Partners led a $50 million (approx. ₹428 crore) Series D funding round in wealth-tech platform smallcase, marking its third major investment from its maiden fund.
Other participants in the round included State Street Global Advisors, Faering Capital, Niveshaay, and Arkam Ventures. The round comprised both primary and secondary components, enabling partial exits by existing investors while bringing in fresh capital for expansion.
Cyril Amarchand Mangaldas acted as the legal counsel to lead investor Elev8 Capital on
The transaction team was led by Pooranimaa Hariharan, Partner; with the support from Aarthi Sashikumar, Principal Associate; Abhinav Sankaranarayanan, Senior Associate; Aiyush Gupta, Senior Associate; Anish Meduri, Associate and Mahek Khandelwal, Associate.
Lakshmi Prakash, Partner; with the support from Ann Tomy, Associate; and Maria Borges, Associate; assisted on FinTech aspects of the transactions.
Rutu Gandhi, Partner; with the support from Aastha Vyas, Associate; and Unnati Maheshwari, Associate; advised on Securities Regulatory Practice (SRP) related aspects of the transaction.
Arya Tripathy, Partner; advised on intellectual property, information technology and data privacy related aspects of the transaction.
Jerome Merchant + Partners advised smallcase on this fundraise.
Aretha Legal advised investor Peak XV Partners on their exit from smallcase.
Samvād: Partners advised investor WEH Venture Partners on their exit from smallcase.
smallcase is engaged in the business of building/operating online investment platforms which allow users to place orders to purchase/sell/track a basket of securities; building/operating APIs and SDKs that enable any online and mobile platforms to offer transactions of securities to their users; building/operating SaaS based platforms to enable individuals and entities to create, showcase and market baskets of securities to their clients.
The funds will be used by smallcase to deepen its offerings across asset classes such as mutual funds, global equities, and fixed income, as well as to enhance its technology and analytics capabilities. Elev8’s Managing Partner Navin Honagudi said smallcase has demonstrated a strong product–market fit and is “shaping the future of retail investing in India,” aligning with the fund’s focus on high-growth digital platforms.
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