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Anandamoy Roychowdhary exits Peak XV after 11 years

EntrackrEntrackr · 7m ago
Anandamoy Roychowdhary exits Peak XV after 11 years
Medial

Anandamoy Roychowdhary, a partner at Peak XV's Surge, has left the firm after spending over 11 years at the firm. This marks the second senior-level exit from the venture capital within a year. Roychowdhary joined Peak XV Partners (formerly Sequoia Capital India) in February 2013 as Director of Technology and was promoted to Partner in Surge in June 2023. Before transitioning into investing, he served as a technology advisor to Peak XV’s portfolio companies, including Byju’s. “Petal wafts from the rose, drawn by dreams of mastery. Cedes post Nov 30th,” Roychowdhary shared on the social media platform X. Recently, Piyush Gupta, Peak XV’s former Managing Director, left the firm after seven years to launch his secondary-focused fund, Kenro Capital. Roychowdhary's next move remains unclear. Peak XV has not commented on the development. Last year, Sequoia Capital India was rebranded as Peak XV Partners. The firm continues to manage $9.2 billion across 13 funds and plans to further invest in India and the Southeast Asia region using its $2.5 billion of uninvested capital.

Former Peak XV MD Piyush Gupta launches secondary-focused fund

EntrackrEntrackr · 7m ago
Former Peak XV MD Piyush Gupta launches secondary-focused fund
Medial

Piyush Gupta, former Peak XV Partners Managing Director, has launched an investment firm, Kenro Capital, which will focus on secondary transactions. In secondary transactions, shares are exchanged between investors at a mutually agreed price, without involving the infusion of new capital into the company or the issuance of additional shares. The development comes seven months after Piyush Gupta left Peak XV. He joined the venture capital firm (formerly known as Sequoia Capital) in 2017 as managing director at Strategic Development. Before that, he was at Morgan Stanley and Deutsche Bank for more than a decade. Gupta launched the new fund with Norbert Fernandes, a seasoned India-focused private equity professional with over 17 years of investing experience across Temasek, IvyCap Ventures, and TR Capital. Kenro Capital will invest in companies in India and Southeast Asia. As per media reports, Kenro has raised an undisclosed amount, is domiciled in Singapore, and will be investing around $20-30 million in growth secondary transactions. The fund aims to acquire minority stakes in growth companies with scaled revenues, profitability or near-profitability, and strong potential for public listing within 2-3 years. Recently, domestic financial investors Oister Global and Tribe Capital India partnered to launch their secondary franchise in India, with plans to invest $500 million over the next two years. In May, 360 ONE Asset Management, formerly known as IIFL Asset Management Ltd, also launched a $480 million worth secondary fund.

Shraeyansh Thakur resigns from Peak XV after a decade

EntrackrEntrackr · 4m ago
Shraeyansh Thakur resigns from Peak XV after a decade
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.

Rahul Chaudhary quits Matrix Partners; to start his new venture

EntrackrEntrackr · 1y ago
Rahul Chaudhary quits Matrix Partners; to start his new venture
Medial

Rahul Chaudhary, who joined venture capital fund Matrix Partners India in February last year, has quit the firm to start his new venture, according to sources aware of the development. Chaudhary left the firm in January this year. As per sources, Chaudhary is planning to launch his new venture soon. Before joining Matrix, Chaudhary spent nearly seven years at Treebo as the co-founder and currently serves as board member of the hotel aggregating platform. Sidharth Gupta and Kadam Jeet Jain are the other two co-founders of the Bengaluru-based company. It’s worth noting that Matrix is an early investor in Treebo. During Chaudhary’s tenure at Matrix Partners India, the had launched a fund worth $450 million and later extended the target size for the fund to $525 million. Since then, the fund has backed more than dozen startups including Neysa, InPrime, Krutrim SI Designs, Aampe, Atomic Work, Wootz.work, Stable Money, and Scapia, among others. Further details about Chaudhary’s new venture couldn’t be ascertained. Queries sent to him did not elicit any response until publication of the story. Chaudhary will join several VCs who have quit their post in 2024 to start a new venture. In March, Nexus Venture Partners’s managing director Sameer Brij Verma left the firm to launch a multi stage fund while Peak XV’s Piyush Gupta stepped down in April to start his own VC firm. In the same month, Lightspeed’s partners Vaibhav Agrawal and Abhishek Nag put in their papers. While Agrawal is launching his own venture firm, Nag joined Mumbai-based 360 One to lead early-stage investments. Most recently, Anand Chandrasekaran left US-based VC firm General Catalysts to focus on his AI startup Crescendo.

Peak XV to launch perpetual ‘Anchor Fund’ backed by its partners, team members

IndianStartupNewsIndianStartupNews · 1y ago
Peak XV to launch perpetual ‘Anchor Fund’ backed by its partners, team members
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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