Mayank Khanduja exits Elevation Capital as high-level exits at VC firms continue

Mayank Khanduja has stepped down as Partner at Elevation Capital after a 15-year stint at the venture capital firm.

“When I joined Elevation in 2011, the Indian startup ecosystem was just finding its rhythm, and I’ve been fortunate to witness it grow into one of the most vibrant and fastest-growing in the world. I have had the unparalleled opportunity to work across spaces as diverse as consumer tech, gaming, healthcare, AI, deep tech and advanced manufacturing,” Khanduja said in a LinkedIn post, announcing his decision to leave the firm.

At Elevation Capital, Khanduja oversaw the firm’s consumer-tech, frontier tech, healthcare, and gaming investments, with his portfolio spanning from visa application platform Atlys to health platform Curelink and spiritual tech startup AppsForBharat, among others.

Khanduja specialised in growth-stage funding at the company that has backed startups like Chaayos and Country Delight, among others.

“This pause allows me to be present wholeheartedly for my family and give them all my time and attention, that they so deserve. Over the next few months, I plan to recharge and come back refreshed for new adventures. I step into this next phase with a bag full of happy memories, renewed energy, and a lot of excitement for what’s ahead,” Khanduja added in the post.

Khanduja’s exit comes almost a year after Elevation Capital’s Partner and COO, Vivek Mathur, left the firm after a 14-year stint.

The move comes at a time when Indian VC firms are seeing rising churn of top-deck executives. For instance, Peak XV saw a string of exits in 2025, including Managing Directors Abheek Anand and Shailesh Lakhani. General Catalyst’s Partner Priya Mohan also stepped down from her role last year.