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News on Medial
Peak XV to launch perpetual ‘Anchor Fund’ backed by its partners, team members
IndianStartupNews
·
1y ago
Medial
Peak XV Partners, a venture capital firm, is introducing the Peak XV Anchor Fund, a permanent capital vehicle that allows the firm's leaders and team members to invest in future funds and collaborate with other fund managers. The fund aims to institutionalize internal funding and deepen the commitment and alignment of Peak XV managers with the firm's investment strategies. Unlike similar funds, the Anchor Fund will exclusively source its capital from the firm's partners and team members, with a focus on investing in global seed and early-stage venture funds. This move follows Peak XV's separation from Sequoia Capital and positions the firm as a major player in the startup ecosystem.
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Peak XV's Piyush Gupta is leaving firm to start own secondary-focused VC fund
TechCrunch
·
1y ago
Medial
Piyush Gupta, an operating leader at Peak XV Partners, is leaving the firm to start his own fund. Gupta played a crucial role at Peak XV, leading the strategic development team and contributing to programs like Pitstop. News of Gupta's departure was shared with limited partners at an annual meeting, where Peak XV also unveiled plans for a perpetual fund. Gupta plans to launch a secondary-focused fund, and Peak XV intends to work closely with him to facilitate transactions at its portfolio companies. Secondary transactions are becoming increasingly popular in India, and Peak XV has seen successful exits through such deals in the past.
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Peak XV to launch perpetual fund backed by own partners, other leaders
TechCrunch
·
1y ago
Medial
Venture firm Peak XV, formerly the Indian and Southeast Asian arm of Sequoia, is launching a perpetual fund called Peak XV Anchor Fund, according to sources. The fund will be financed by the company's internal balance sheet and will provide the firm with a global network for learning and collaboration. The fund aims to expand Peak XV's investment capabilities and explore new asset classes, with plans to partner with managers across regions, strategies, and sectors. The firm currently manages over $9bn in assets under management.
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Former Sequoia India firm launches new fund for early ventures
Economic Times
·
1y ago
Medial
Peak XV Partners, previously known as Sequoia India & Southeast Asia, is launching a new fund called the Peak XV Anchor Fund. The fund will invest in global seed and early venture funds, as well as other investment opportunities outside of its existing portfolios. The Anchor Fund will be supported by an internal capital pool, and the firm plans to partner with other fund managers across various regions and sectors. The new fund aims to retain talent within Peak XV and will start investing in April. Previously, as part of Sequoia Capital, the firm raised $2.85 billion in 2022 for investments in Indian and Southeast Asian startups.
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Neo Asset set to float second special situations fund with bigger corpus
VCCircle
·
8m ago
Medial
Mumbai-based Neo Asset is set to launch its second special situations fund, backed by venture capital firm Peak XV Partners and MUFG, the Japanese banking giant. Nitin Jain, former Edelweiss Wealth CEO and founder of Neo, revealed plans for the fund, which aims to have a larger corpus than the previous one. Neo Asset is the alternative asset management arm of Neo Group.
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Neo Asset hits first close of second special situations fund, sets final close target
VCCircle
·
4m ago
Medial
Neo Asset Management, under Peak XV Partners and backed by MUFG Bank, announced the first close of its second special situations fund, having raised around 40% of its target corpus. Known for investments in special situations, performing credit, and infrastructure via different funds, the firm is progressing towards its financial goals.
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Neo Asset aims to wrap up deployment of special situations fund by 2024-end
VCCircle
·
1y ago
Medial
Mumbai-based wealth and asset management firm, Neo Asset Management, is set to complete the deployment of its special situations fund by the end of 2024. The firm, backed by Peak XV Partners, recently concluded the fundraising for its inaugural fund. Neo Asset Management aims to focus on opportunities in the special situations space, targeting investments that offer high potential returns.
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‘We are defined by the choices we make…’: Peak XV downsizes growth fund in India by 16%
Business Today
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10m ago
Medial
- Peak XV Partners, formerly known as Sequoia Capital India, is downsizing its fund in India by 16% after achieving $1 billion in exits this year. - Despite the downsizing, Peak XV remains strongly committed to investing in India and South East Asia. - The venture capital firm is making strategic changes to better serve its multi-decade time horizon. - Peak XV is focusing on measured investments in its growth fund while maintaining its support for seed and venture stage opportunities. - The decision to downsize is intended to benefit the founders and limited partners in the long term. - Peak XV has a successful track record, managing over $9 billion in capital and investing in more than 400 companies across various sectors.
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Shraeyansh Thakur resigns from Peak XV after a decade
Entrackr
·
5m ago
Medial
Shraeyansh Thakur resigns from Peak XV after a decade During his tenure at Peak XV, he was board member and observer for startups like Atlys, Meesho, Cars24, ApnaMart, Unacademy, Zetwerk, Urban Piper, Bijnis, among others. Shraeyansh Thakur, an investor at Peak XV Partners, has resigned after nearly 10 years at the venture capital firm, sources told Entrackr. This marks the fifth high-profile exit from Peak XV in the past year. “Shraeyansh Thakur has decided to quit the firm and is likely to launch his own venture soon,” said one of the sources requesting anonymity. Queries sent to Peak XV and Thakur did not elicit any response until publication of the story. "After an incredible 9+ years at Peak XV / Sequoia India, I have decided to embark on a new entrepreneurial journey. The next 10 years are going to be India’s golden digital decade and our founders now have true belief to create the world’s best companies from India," said Thakur in a Linkedin post. Last month, Peak XV’s managing partners, Shailesh Lakhani and Abheek Anand, stepped down after serving for more than a decade. Prior to that, Anandamoy Roychowdhary, a partner at Peak XV's Surge, departed after over 11 years at the firm, while Piyush Gupta, then Managing Director, left after seven years to launch his secondary-focused fund, Kenro Capital. Meanwhile, Rishen Kapoor, co-founder and CEO of SaaS startup Toplyne, has returned to Peak XV Partners after his three-and-a-half-year-old venture shut down. In October last year, Peak XV reduced its $2.85 billion fund by 16% as part of a strategic shift towards investing in a more measured manner amid elevated valuations in the Indian market. This development came a year after Sequoia Capital rebranded as Peak XV.
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Peak XV downsizes its $2.85 billion fund by 16% a year after Sequoia US-India split
Economic Times
·
10m ago
Medial
- 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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Vah Vah founders’ new startup raises funds from Peak XV and Nexus
Entrackr
·
1y ago
Medial
Brightpoint Studios, a new startup founded by the co-founders of vocational training startup Vah Vah, has secured funding ahead of its public launch. Peak XV and Nexus are leading the investment round with an estimated amount of $5-6 million. The startup plans to follow a Thrasio model for gaming apps and has already acquired one company. Brightpoint Studios will officially launch in the coming weeks. Vah Vah was part of the Peak XV Partners' accelerator program Surge, which supported several other startups. Nexus is currently working to close a $700 million fund for US and Indian startups.
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