Peak XV Launches Three New Funds with $1.3 Billion in Capital Commitments

Venture Capital firm Peak XV has launched its first independent funds — India Seed, India Venture, and APAC Funds — after splitting from Sequoia Capital in 2023.

In a statement on X and LinkedIn, the firm said it has raised $1.3 billion in commitments for the three funds.

Read also- Roopya raises Rs 4 Cr in seed round led by Inflection Point Ventures

“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. ”

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The fundraising comes just days after three key partners—Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma—left the firm in February, part of a larger wave of departures. 

Over the past 18 months, Peak XV has also lost other senior partners, including Pieter Kemps, Shailesh Lakhani, Abheek Anand, Shraeyansh Thakur, and Anandamoy Roychowdhury. 

The exits of Agrawal, Mittal, and Sharma, in particular, sparked controversy over the fund’s carry and its centralized structure.

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