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‘We are defined by the choices we make…’: Peak XV downsizes growth fund in India by 16%
Business Today
·
9m 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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Peak XV downsizes its $2.85 billion fund by 16% a year after Sequoia US-India split
Economic Times
·
9m 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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Peak XV slashes fund size, cuts fees on some growth funds
Livemint
·
9m ago
Medial
- Peak XV Partners, formerly part of Sequoia Capital, plans to reduce its $2.85 billion growth fund by 16%, or $465 million, in a move to take a more measured approach to investments. - The growth fund, raised in 2022, will now hold approximately $2.39 billion. - Peak XV will tie part of its carried interest to the distribution of profits in its growth and multi-stage funds, while seed and venture fund economics will remain unchanged. - The decision reflects the lack of high-quality investment opportunities in the current market, particularly from companies that raised capital at inflated valuations during the pandemic. - Peak XV is also reducing its management fees to 2% on three growth and four multi-stage funds, and cutting its carried interest to 20% to better align with the interests of its founders and limited partners.
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Peak XV Pares Size Of Its Largest Fund By 16%, Slashes Fees
Inc42
·
9m ago
Medial
- Peak XV is investing cautiously in its growth fund, considering the high valuation in the Indian public market. - A portion of Peak XV's carried interest is linked to profit distributions in its growth and multi-stage funds. - Peak XV Partners achieved exits worth approximately $1.2 billion within 15 months of separating from parent company Sequoia. - The focus of Peak XV's investments is on measuring growth and expansion opportunities. - Peak XV has adapted its investment strategy to navigate the current market conditions effectively. - The company's goal is to generate returns by carefully selecting and supporting promising businesses.
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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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Shraeyansh Thakur resigns from Peak XV after a decade
Entrackr
·
4m 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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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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Peak XV hires investment partner in the US
Inshorts
·
4m ago
Medial
Peak XV Partners has roped in Arnav Sahu, a principal at startup accelerator Y Combinator in San Francisco as a partner, say sources. At YC, Sahu has been instrumental in driving growth investments, specifically working for the YC Continuity fund, which shut down in March 2023. Sahu is likely to join as a partner at Peak XV.
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Peak XV VP-Growth Suraj Agarwalla exits firm, Vedant Trivedi moves onto portfolio company
YourStory
·
2m ago
Medial
Suraj Agarwalla, Vice President at Peak XV Partners, has left the firm after seven years, amid several top-level exits, including Vedant Trivedi, who joined an AI portfolio company. This succession follows the departure of other key executives after Peak XV split from Sequoia Capital. The changes come as the firm reportedly plans to raise a $1.2-$1.4 billion India-focused fund and faces reduced fund sizes due to a slowdown in growth-stage funding.
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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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Peak XV To Launch Perpetual ‘Anchor Fund’ Backed By Its Partners, Team Members
Inc42
·
1y ago
Medial
Venture capital firm Peak XV Partners is set to launch a permanent capital vehicle called Peak XV Anchor Fund. The fund will allow the firm's leadership to invest in future funds and partner with other fund managers. This unique investment vehicle will be funded solely by the firm's partners and team members. The fund aims to create high accountability and alignment with limited partners. It will not impact existing relationships with limited partners who have invested in Peak XV's various funds. The firm plans to start with small investments that will compound over time.
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