Peak XV Partners has become the latest venture capital firm to stock up on dry powder, closing $1.3 billion in capital commitments to invest across its India Seed, India Venture, and APAC funds.
This also marks the VC firm’s—one of the largest in India—maiden fund post its split from Sequoia Capital back in 2023.
According to a post on X on Friday, the firm will dip into “significant” uninvested capital from its existing growth fund and make investments. It also noted that most of its limited partners (LPs) are non-profit endowments and foundations.
Peak XV, like other VC firms, have commented on the optimism around artificial intelligence (AI) startups, having made a series of recent bets in the space, including Y Combinator-backed PostHog and Hyperbound.
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“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 post read, hinting at the firm doubling down on investments in the sector, along with fintech and consumer segments.
The fundraising comes after Peak XV churned in blockbuster returns from a string of portfolio companies recently listed on public bourses, including Pine Labs and Groww.
Meanwhile, the firm has been seeing a slew of exits among its top-level executives. Most recently, managing directors Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma left the company to set up their own venture capital firm.
In 2025, managing directors Abheek Anand and Shailesh Lakhani left the firm, followed by Surge partner Pieter Kemps and managing director Harshjit Sethi.
Edited by Suman Singh
Original Article
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