Venture capital firm Peak XV has launched its first independent investment funds — India Seed, India Venture, and APAC — after separating from Sequoia Capital in 2023.
The company shared on X and LinkedIn that it has raised $1.3 billion from investors for these three funds.
“Along with significant uninvested capital in our existing Growth fund, we are excited about our ability to back outlier founders building category defining companies, across multiple stages, as we have done for two decades,” the statement said
Peak XV didn’t reveal the names of its investors, but said many are top non-profit endowments and foundations.
The firm also didn’t share the size of individual investments or how many deals it plans to make. Its main focus areas for the new funds are fintech and AI.
The post said AI as a defining theme of the current investment cycle. “AI is transforming the world at an unprecedented pace, and while the initial breakthroughs were concentrated in Silicon Valley, AI opportunities are now abundant in India and APAC. The size, scale and sophistication of technology startups is deeply inspiring across both India and APAC. ”
The fundraising announcement came only a few days after three key partners — Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma — left the firm in February, as part of a broader series of exits.
In the last 18 months, Peak XV has also seen several other senior partners depart, including Pieter Kemps, Shailesh Lakhani, Abheek Anand, Shraeyansh Thakur, and Anandamoy Roychowdhury.
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