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Peak XV introduced on Friday that it has raised $1.3 billion throughout new India and Asia-focused funds. The agency, which now manages greater than $10 billion in property, is sharpening its deal with synthetic intelligence and cross-border bets amid intensifying competitors for offers within the area.
The capital can be deployed throughout its India seed and enterprise funds in addition to its APAC car. A majority is earmarked for India, with the agency anticipating to speculate the pool over the following two to a few years, managing director Shailendra Singh mentioned in an interview on Friday.
Peak XV break up from Sequoia Capital in 2023, in an effort to separate the India-focused parts of Sequoia’s portfolio. The agency now counts greater than 450 portfolio firms throughout fintech, software program, and client web, spanning seed to development phases.
The agency’s new fundraise comes as New Delhi hosts the AI Impression Summit, drawing main expertise gamers together with OpenAI, Anthropic, and Google. On the occasion, Basic Catalyst outlined plans to speculate $5 billion within the nation over the following 5 years, sharply rising its earlier dedication to the market.
Singh mentioned Peak XV is just not attempting to match rivals dollar-for-dollar, emphasizing that the agency’s precedence is producing sturdy returns slightly than maximizing property beneath administration. The agency will proceed to measurement its funds primarily based on the place it sees one of the best alternative to ship “high-performing funds,” he mentioned.
He added that Peak XV remains to be constructing its presence within the U.S. and is selective about the place it competes. “Within the U.S. market, we’re an underdog — and that’s nice,” Singh mentioned, including that the agency is specializing in areas the place its expertise in software program, developer instruments, and fintech provides it an edge.
The newest fundraise follows a interval of management modifications at Peak XV, together with the current departures of senior accomplice Ashish Agrawal and buyers Ishaan Mittal and Tejeshwi Sharma. Singh informed Trendster the agency retains important expertise on its management group, noting that 5 of its seven managing companions have been with Peak XV for greater than a decade. The broader Peak XV group contains greater than 30 full-time buyers, with a few dozen main investments throughout its markets.
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Peak XV has returned greater than $7 billion in money to buyers since inception, Singh mentioned, including that 35 of its portfolio firms have gone public. He declined to specify distributions for the reason that agency’s break up from Sequoia Capital. In September 2024, Trendster reported that the agency had returned about $1.2 billion within the 12 months.
Forward of the present elevate, Peak XV’s prior fund was sized at $2.85 billion in late 2021, earlier than the agency break up from Sequoia Capital. That determine was later diminished to about $2.4 billion as a part of what Singh described as a disciplined method to capital. The sooner pool included Peak XV’s India development technique, and Singh mentioned the agency doesn’t plan to lift a brand new development fund till extra of that dry powder is deployed.
Singh expects to deploy the brand new capital primarily into AI, fintech, and client startups, whereas additionally seeing rising alternatives in deep tech. The agency has made greater than 80 investments in AI startups to this point. He added that the U.S.-India ties have gotten more and more necessary as extra founders within the area construct for international markets.
