Peak XV raises $1.3 bn for first independent fund post Sequoia split

New Delhi: Peak XV Partners, which split from Silicon Valley's marquee venture capital firm Sequoia Capital in 2023, has raised its first independent fund with a $1.3-billion corpus. The fund will be deployed through three separate vehicles-two focused on seed and early-stage bets in India and a dedicated pool targeting startups across the Asia-Pacific region.

"Along with significant uninvested capital in our existing growth fund, we are excited about our ability to back outlier founders building category defining companies, across multiple stages, as we have done for two decades," Peak XV Partners said in a statement.

ET first reported about the plans for the fundraising in April last year, saying that the firm was targeting a $1.2-1.4 billion vehicle.


The new vehicle-ninth for the investment firm since its launch in 2006 in India-will be almost half the size of its previous fund despite its resizing.

The firm, which has backed the likes of Zomato, Meesho, Groww and Razorpay, has raised nearly $10 billion in capital across funds since 2006.