Mayank Khanduja Exits Elevation Capital to Join Bessemer as Partner

Mayank Khanduja has left Elevation Capital to join Bessemer Venture Partners as a Partner, according to a report by Entrackr. The move shifts a seasoned India-focused investor from one of the country's most active early-stage backers to a firm with more than a century of investing history.

Khanduja spent several years at Elevation Capital (formerly SAIF Partners), where he backed consumer internet and technology startups across the Indian market. His departure marks a notable personnel change at the firm, which has been one of the most prolific investors in Indian startups over the past decade.

Bessemer Venture Partners, founded in 1911, is one of the oldest venture capital firms in the United States. The firm has invested across technology sectors globally and has been expanding its presence in India, where it has deployed capital into companies spanning software, fintech, and consumer businesses.

At Bessemer, Khanduja will hold the title of Partner. The appointment signals the firm's continued commitment to the Indian market, where competition among global and domestic funds for high-quality deal flow has intensified as valuations have corrected from their 2021 peaks.

Khanduja's move follows a broader pattern of investor mobility in India's venture ecosystem, where partners have rotated between firms as funds recalibrate strategies amid a tighter funding environment. His experience evaluating early-stage consumer and internet companies positions him to source and lead deals for Bessemer in one of the world's largest startup markets.

Neither Elevation Capital nor Bessemer Venture Partners has publicly detailed the specific investment remit Khanduja will take on, according to the Entrackr report. His portfolio work at Elevation included engagement with companies across consumer internet categories, though the report did not specify which board seats or portfolio responsibilities will transfer.

For Bessemer, the hire adds local senior talent at a time when global firms are deepening India teams rather than running the market purely from overseas offices. For Elevation, it means replacing an experienced member of an investment team that has backed some of India's most prominent startups.

Khanduja is expected to begin sourcing and leading investments for Bessemer in the Indian market immediately, based on the appointment as reported.