Senior partners Shailesh Lakhani, Abheek Anand exit venture firm Peak XV

Lakhani and Anand have been with the firm for 17 years and 12 years, respectively. Both partners have made significant investments for the firm over the years

Two managing partners at Peak XV, Shailesh Lakhani and Abheek Anand, have quit the venture capital company.

 

Lakhani and Anand have been with the firm for 17 and 12 years, respectively. Both the partners had made considerable investments for the firm over the years.

 

Some of the notable investments made by Lakhani include beauty brand Minimalist, which was acquired by HUL for $350 million. He also represented travel firm Ixigo, and Truecaller, which went public. Other investments include Zetwork, CoinSwitch, Porter, Healthkart and others.

 

“As my time at Peak XV/Sequoia India reaches 17.5 years, I’ve decided it’s the right moment to step back from the firm. It has been an incredible journey — one that began in August 2007, when India’s startup ecosystem was in its infancy, to today, where it stands as one of the most vibrant in the world,” said Lakhani in a post on X (formerly Twitter).

 

Anand brought companies like payments firm Sunrate, travel tech firm Slice, Openborder, AI firm Appier, Cuemath, and other firms into the fold of Peak XV.

 

“It has been an incredible journey — filled with deep learning, meaningful relationships, and the privilege of working alongside inspiring founders, LPs, and colleagues,” said Anand in a post on LinkedIn.

 

Both said they would like to take a break, but did not mention what the next step would be. 

 

Anand wrote: “Before I was an investor, I was a founder. Now, I’m excited to return to building — at the intersection of these worlds.”

 

The announcement comes as the VC firm, earlier known as Sequoia India, also cut its fund size in the country. In 2022, the firm had received a commitment of $2.85 billion.

 

In 2024, however, the firm said it is releasing $465 million of the investors' commitment. It also reduced its management fee to 2 per cent.

 

The two partners will continue to hold some of the existing Board seats, said sources in the know.

 

“Sequoia/Peak XV was always a partner-heavy firm. Also, with the fund size coming down, some of those who have been with the firm may look at stepping down. It is quite natural for some of them as they have spent a long time with the firm,” said an industry player.

 

Exit of the duo is among the first set of senior partner exits from the firm after its split with Sequoia in 2023.

 

The firm’s portfolio comprises 400 companies, which include over 50 unicorns.