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Peak XV downsizes its $2.85 billion fund by 16% a year after Sequoia US-India split

Economic TimesEconomic Times · 2m
Peak XV downsizes its $2.85 billion fund by 16% a year after Sequoia US-India split

- Peak XV Partners, a venture capital firm, is downsizing its $2.85 billion fund by 16%. - The fund reduction is primarily in the growth-stage allocation, with a total reduction of $465 million. - Peak XV is also cutting down the management fee from 2.5% to 2% of the overall fund size. - The carry, which is the profits from exits, will be reduced to 20% for growth investments, but will increase to 30% if a fund achieves a 3x distribution to paid-in capital. - These changes will be applicable to all ongoing growth funds of Peak XV Partners and previous Sequoia Capital India vehicles. - The decision to downsize the fund size was driven by slow deployment of growth capital over the past two years.

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