Peak XV closes $1.3 bn across India and APAC funds after Sequoia split

Peak XV Partners has closed $1.3 bn across three funds-its first independent raise since parting from Sequoia-targeting AI, fintech, consumer tech and deeptech ventures in India and APAC

Venture capital investor Peak XV Partners on Friday closed an independent fund with a corpus of $1.3 billion with a planned investment focus in areas such as artificial intelligence (AI), fintech, consumer and deeptech.

 

This is its first independent fund after splitting away from American VC Sequoia Capital in 2023.

 

It received capital commitments across its India Seed, India Venture and APAC Funds.

 

“Along with significant uninvested capital in the firm’s existing Growth fund, Peak XV continues to partner with exceptional founders building category-defining companies across India, APAC and beyond, from the earliest stages through IPO and long-term scale,” it said in a statement. 

Peak XV said that it remained among the largest investors within its own fund.

 

“We recognise that every fundraise represents a responsibility to both our LPs and to the founder ecosystem, and we remain deeply committed to serving them,” said Shailendra Singh, managing director, Peak XV.

 

The investor has managed over $10 billion in capital across 16 funds and has invested in over 450 companies. The portfolio has seen over 35 IPOs (initial public offerings).

 

“The scale of opportunity, depth of talent, and growing global ambition among founders makes this one of the most exciting periods we have seen. We are here to partner with founders who combine vision, resilience and execution as they build enduring companies,” Singh added.

 

The fundraise comes at a time when the firm has had a slew of exits over the past few months.

 

Three partners — Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma — left the firm earlier this month.