Leading venture capital firm Peak XV, an early backer of public companies such as Zomato, Groww and Meesho, has raised $1.3 billion in fresh capital commitments to deploy across India, the broader Asia-Pacific region and select global markets. According to reports from The Times of India and The Hindu BusinessLine, the capital will be allocated across its India Seed, India Venture and APAC funds, marking the close of a fundraising process that began nearly a year ago. The fundraise comes nearly three years after the firm split from its Silicon Valley parent Sequoia Capital, positioning Peak XV as an independent venture capital powerhouse in the competitive Indian startup ecosystem. As reported by The Hindu BusinessLine, this represents the ninth fund for the investment firm since its launch in 2006 in India, though it is almost half the size of its previous fund despite the resizing. The firm also noted that it has significant uninvested capital from its existing Growth fund, with most of its limited partners being non-profit endowments and foundations.
The fundraise comes amid several top leadership exits at the venture capital firm after disagreements over economics and payouts. As reported by The Times of India and The Hindu BusinessLine, three senior investment professionals Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma left earlier this month as part of an ongoing leadership transition, with the most recent departures including managing directors Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma who left to set up their own venture capital firm. In 2025, managing directors Abheek Anand and Shailesh Lakhani left the firm, followed by Surge partner Pieter Kemps and managing director Harshjit Sethi. Managing director Shailendra Singh explained that the firm will continue to focus on AI, fintech and consumer sectors, stating that AI is a very important opportunity area and the firm has a strong track record in fintech across India, Middle East and APAC regions. The firm has also earmarked capital for AI-native startups and firms adopting an AI-first approach, with Singh noting that AI applications are beginning to impact all categories, particularly in fintech. According to The Hindu BusinessLine, Singh emphasized that this is an extraordinary time for technology innovation across India and APAC, with the scale of opportunity, depth of talent, and growing global ambition among founders making this one of the most exciting periods seen.
The fresh capital will be deployed across three distinct funds with specific investment ranges. According to The Times of India, the India seed fund will provide cheques up to $5 million for seed or very early-stage funding, while the India venture fund will make investments ranging from $5-$15 million, with cases extending up to $20 million. The firm also has an existing $1 billion growth fund raised in 2022, which is approximately half uninvested, allowing Peak XV to fund up to $75-$100 million at the top end. Singh noted that for growth investing, India remains one of the world's most expensive markets, with the firm focusing on finding the very few companies that will become enormous in scale. As reported by The Hindu BusinessLine, the firm will continue to focus on its core sectors of AI, FinTech and Consumer, while also expanding investments in emerging areas such as DeepTech. The new vehicle will be deployed through two focused funds on seed and early-stage bets in India and a dedicated pool targeting startups across the Asia-Pacific region. The firm has begun investing globally, entering Singapore, the US, Australia, Middle East, Indonesia, Turkey, Japan, Taiwan, and Europe.
Peak XV has experienced a strong exit year, generating over $1 billion in realized proceeds in 2024 and 2025 and currently holding approximately $4 billion in public securities. According to The Times of India, the firm has clocked over $4.7 billion in gross proceeds generated since 2021, over half of $7.5 billion in gross proceeds generated since inception. Notable exits include Groww listing at a valuation of roughly ₹62,000-76,000 crore with Peak XV's initial investment valued at roughly ₹17,300 crore in 2018, clocking a return of around 75x. The firm's target is to exhaust the capital in two to three years. As reported by The Hindu BusinessLine, the fundraising comes after Peak XV has seen strong returns from a string of portfolio companies recently listed on public bourses, including Pine Labs and Groww. The firm has raised nearly $10 billion in capital across funds since 2006, demonstrating its consistent track record in backing successful startups.
Currently, Peak XV manages over $10 billion in assets under management with over 450 companies across financial services and fintech, software and AI, and consumer internet sectors. As reported by The Times of India and The Hindu BusinessLine, the firm has begun investing globally, entering Singapore, the US, Australia, Middle East, Indonesia, Turkey, Japan, Taiwan, and Europe. With the latest fundraise, Peak XV's dry powder reaches well over $1.6-1.7 billion to be invested across India, APAC and globally, positioning the firm for continued growth in the competitive venture capital landscape. The funds have been backed by a mix of investors comprising universities, endowments, foundations and a few sovereign funds, with the company maintaining its focus on core areas of fintech and consumer sectors alongside emerging AI opportunities. According to The Hindu BusinessLine, Singh emphasized that the firm remains deeply committed to serving both its limited partners and the founder ecosystem, recognizing that every fundraise represents a responsibility to both. The firm's ability to back outlier founders building category-defining companies across multiple stages represents its continued commitment to supporting innovative companies for the next two decades.
