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Rishen Kapoor returns to Peak XV after Toplyne wind-down
YourStory
·
7m ago
Medial
Rishen Kapoor, Co-founder and CEO of Toplyne, has rejoined Peak XV Partners after winding down his SaaS startup focused on optimizing product-led growth strategies. Toplyne, founded in 2021, aimed to convert freemium users into paying customers but faced challenges in scaling and product-market fit. Despite backing from notable investors like Tiger Global and raising $15 million, the company decided to wind down. Kapoor announced his return on LinkedIn, expressing excitement about rejoining venture capital at Peak XV.
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Related News
Tiger Global-backed Toplyne shuts down operations
Entrackr
·
10m ago
Medial
Plug-and-play platform Toplyne is shutting down operations and returning capital to investors, according to sources who spoke to Entrackr. This decision comes as a surprise, given that Toplyne had raised funding from prominent investors like Peak XV and Tiger Global. “Despite securing sizable funding, the startup struggled with scaling beyond a certain point, leading the founding team to make the decision to wind down and reach out to investors to return remaining capital,” said one of the sources requesting anonymity. Toplyne is a plug-and-play platform designed to help sales teams at product-led growth companies increase conversion rates among freemium users. Founded by Rishen Kapoor, Ruchin Kulkarni, and Rohit Khanna, this three-and-a-half-year-old startup facilitated lead conversion by integrating actionable insights directly into products, enabling companies to turn potential leads into paying customers. “After 3.5 years of building Toplyne, we’ve made the tough decision to wind down operations and return capital to our investors. Despite our best efforts, we couldn’t reach the scale or product-market fit we aimed for,” said Rishen Kapoor in a LinkedIn post. Toplyne has raised over $17 million in total capital from investors including Peak XV, Tiger Global, Surge, Together Fund, and angel investors like Kunal Shah and Harshil Mathur. According to the startup data intelligence platform TheKredible, Toplyne was valued at approximately $80 million in its latest fundraising round. Sources indicate that one of the co-founders, Rohit Khanna, exited the firm sometime last year due to differences within the founding team. Queries sent to Kapoor and Peak XV didn’t elicit any immediate response. Toplyne joins a group of startups that have shut down operations in 2024 while returning partial capital to investors. Others on this unique list include Greenik, Fashinza, Virgio, Investmint, Bluelearn, Paras Chopra-led Nintee, and Karthik Gurumurthy-led Convenio.
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Peak XV-Backed Toplyne Shuts Operations
Inc42
·
10m ago
Medial
- Toplyne, a SaaS startup, is shutting down its operations due to inability to scale and find product-market fit. - The company's co-founder and CEO, Rishen Kapoor, announced the decision to shut down. - Toplyne plans to return capital to its investors, including Peak XV Partners and Tiger Global. - The startup, founded in 2021, offered an AI-powered platform to assist product-led companies in converting free users into paid ones.
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SaaS firm Toplyne shuts operations, to return capital to investors
Inshorts
·
10m ago
Medial
SaaS firm Toplyne has shut its operations after nearly 3.5 years of running the business. "We've made the tough decision to wind down operations and return capital to our investors. Despite our best efforts, we couldn't reach the scale or product-market fit we aimed for," CEO Rishen Kapoor wrote. Toplyne was valued at approximately $80 million in last funding round.
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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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ChrysCapital, Peak XV score multibagger returns from common portfolio firm
VCCircle
·
8m ago
Medial
ChrysCapital and Peak XV Partners have successfully sold a common portfolio company, generating substantial returns from partial exits. Peak XV has recently achieved significant returns from another portfolio company, while also experiencing losses from BlackBuck, a logistics company.
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Elevation Capital, Peak XV Partners to score multibagger returns from tech bet
VCCircle
·
1y ago
Medial
Elevation Capital and Peak XV Partners, prominent venture capital investors in Indian startups, aim to generate significant returns from a tech company investment. Formerly known as SAIF Partners and Sequoia Capital India and Southeast Asia respectively, the firms plan to partially monetize their investments. The tech bet is anticipated to yield multibagger returns for both Elevation Capital and Peak XV Partners.
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Peak XV Partners wraps up over $300 mn exit from India portfolio
VCCircle
·
2m ago
Medial
Peak XV Partners, formerly Sequoia Capital India, recently exited its non-tech investment in India with over $300 million in returns. The venture capital firm has been successful with its seed-stage platform Surge, achieving significant returns from its investment in direct-to-consumer brand Minimalist, which Hindustan Unilever Ltd acquired. This success marks a notable achievement for Peak XV Partners in the investment landscape.
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Peak XV, ChrysCapital to pocket bigger cheques from common portfolio firm
VCCircle
·
1y ago
Medial
Peak XV Partners and ChrysCapital, two Indian investment firms, have revised their strategy for profiting from a shared portfolio company. Formerly known as Sequoia Capital India and Southeast Asia, Peak XV and ChrysCapital are now aiming to cash in bigger amounts by selling portions of their stakes. The venture capital and private equity firms are looking to maximize returns from their investments and secure larger returns from their common portfolio company.
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A Look At Pine Labs' Shareholding Pattern & Top Leadership
Inc42
·
1m ago
Medial
Pine Labs has filed its draft red herring prospectus (DRHP) to go public, aiming to raise INR 2,600 crore through a fresh issue. The IPO will include an offer for sale of up to 14.78 crore shares from investors like Mastercard, Peak XV Partners, Macritchie Investments, and cofounder Lokvir Kapoor. Significant stakeholders include Peak XV Partners with 20.35%, Macritchie Investments with 7.10%, PayPal with 6%, and CEO B. Amrish Rau with 2.35%.
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Peak XV sees likely windfall gains from IPOs amid top-brass exits, new fund
YourStory
·
1m ago
Medial
Peak XV Partners, a major venture capital firm in India, is set to reap significant gains from the upcoming IPOs of its portfolio companies, including Wakefit, Pine Labs, Bluestone, and Groww. The firm is poised to see high returns as the largest selling shareholder in Wakefit and Pine Labs' IPOs. This anticipated financial boost comes at a crucial time as Peak XV navigates senior-level departures and prepares to raise a new $1.4 billion fund after its split from Sequoia Capital.
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