Peak XV Partners

In 2006, Sequoia Capital and WestBridge Capital Partners merged their India businesses, and the firm gradually adopted the Sequoia Capital India name. WestBridge’s $200 million second fund was renamed Sequoia Capital India Fund II at the time, and four managing directors, Sumir Chadha, K. P. Balaraj, Sandeep Singhal and S. K. Jain, led investment decisions in India.⁠[1]

In March 2009, the team made its first investment of $1.2 million in the Indian payments software company Pine Labs. The firm later increased its stake through primary and secondary transactions, and the company became one of its long-term investments.⁠[2]

In February 2011, the four former WestBridge managing directors left Sequoia Capital India to run WestBridge again, focusing on public market investing. The departing partners said the two sides parted amicably; the remaining Sequoia Capital India team continued the growth capital business and retained part of the portfolio.⁠[3]

In a 2026 interview, Mohit Bhatnagar recalled that from 2006 to 2011 the firm focused on financial services, infrastructure, microfinance and IT services; after 2011, he, Shailendra Singh and G. V. Ravishankar stepped up technology investing and gradually expanded into Southeast Asia.⁠[4]

In August 2018, Sequoia Capital India closed its $695 million sixth fund, targeting early- and growth-stage companies in India and Southeast Asia. The new fund was smaller than the $920 million fifth fund of 2016; Abhay Pandey departed around the same time, after Gautam Mago and V. T. Bharadwaj had already left.⁠[5]

In 2019, the firm launched Surge to support seed-stage companies with capital, company-building guidance and a founder network. The platform combines support for hiring, product, go-to-market and fundraising, accepts applications from teams still at the idea stage, and continues to support their subsequent growth.⁠[6]

In July 2020, the Sequoia India and Southeast Asia business closed two funds totaling $1.35 billion, comprising a $525 million venture fund and an $825 million growth fund. It was the first time the business raised these two types of funds separately, complementing the seed platform to cover different stages of development.⁠[7]

In 2021, the firm launched Spark, a grant and mentorship program for women founders, as an ecosystem support program alongside its capital investments.⁠[8]

In 2022, governance issues at portfolio companies such as BharatPe and Zilingo drew attention to Sequoia Capital India. Some portfolio companies worried the episodes would affect the firm’s reputation and its trust with founders, and the closing of a new fund was also delayed by a governance issue at one company.⁠[9]

In April, the firm publicly reflected on the governance issues and proposed strengthening founder training, whistleblower systems, audits and internal controls.⁠[9]

On June 14, the firm announced it had raised a total of $2.85 billion, including $2 billion for venture and growth funds for India and $850 million for its first fund dedicated to Southeast Asia. The firm said at the time that it had backed more than 400 startups in the region and had seen multiple listings and exits over the preceding year and a half.⁠[8]

In June 2023, the Sequoia India and Southeast Asia business announced it would be renamed Peak XV Partners and operate as an independent firm. Peak XV was an early name for Mount Everest; the existing leadership continued to lead the firm, and the India and Southeast Asia funds already raised continued investing.⁠[10]

In the announcement, Shailendra Singh explained that the US and Europe, China, and India and Southeast Asia businesses had each made their own investment decisions, and that as their strategies diverged, brand confusion and portfolio conflicts arose. The announcement disclosed that the firm had raised a cumulative $9.2 billion across 13 funds and realized about $4.5 billion in exits up to that point; these were cumulative figures at the time.⁠[10]

On February 26, Peak XV announced 16 women founders in the third Spark cohort. The program provides a $100,000 grant that does not require giving up equity, along with one-on-one mentorship from the team and company founders; by the third cohort, its community included a cumulative 48 founders and 41 companies.⁠[11]

In March, the firm announced the Peak XV Anchor Fund, which would pool partners’ and leadership’s own capital into a permanent capital vehicle investing in the firm’s own new funds, other fund managers, public markets and other assets. The arrangement was intended to keep long-term interests aligned with limited partners, and commitments were planned to be accepted from April 1.⁠[12]

In October, Peak XV cut the size of its 2022 funds by $465 million, about 16% of the original size. The firm explained to limited partners that rising valuations in India’s public markets had pushed up fundraising expectations for late-stage and pre-IPO companies, so it chose to maintain investment discipline and reduce uninvested capital commitments.⁠[13]

The changes also covered three growth funds and four multi-stage funds: the base management fee was lowered from 2.5% to 2%, and carried interest from 30% to 20%, with a catch-up mechanism raising carry back to 30% once distributions reach three times paid-in capital. Fee arrangements for the seed and venture funds were unchanged.⁠[13]

The tenth Surge cohort, announced on October 22, included 14 companies with teams in India, Singapore, the Philippines, the United Arab Emirates, Australia, the United Kingdom and the United States. The program ran through February 2025, combining company-building curriculum, peer exchange and a US immersion.⁠[14]

In 2025, the firm saw a new round of senior departures, including Shailesh Lakhani, Abheek Anand and Harshjit Sethi.⁠[4]

In November, Pine Labs went public. Funds managed by Peak XV and affiliates had at one point held more than 72% of the company, later reduced to about 20%, and received more than $575 million in cumulative cash proceeds; this figure is before management fees, carried interest, taxes and other expenses and does not equal investors’ net returns.⁠[2]

In December, Meesho went public. Peak XV first invested $7.15 million in 2018 for an 18.4% stake and later invested twice more; the team’s early interest focused on the zero-inventory platform and its model of reaching consumers outside major cities through social reselling.⁠[15]

In February, Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma left Peak XV. Shailendra Singh acknowledged disagreements over economics and allocation, and said that after a negotiated separation with Agrawal, the other two also chose to leave; he attributed the decision to the long-term interests of the firm and its limited partners.⁠[16]

Singh said the team wanted to maintain a lean structure of seven to eight general partners and to add artificial intelligence investing capacity. At the same time, Abhishek Mohan was promoted and Saipriya Sarangan became chief operating officer, responsible for fund operations, freeing the senior investment team to focus more on investing.⁠[16]

On February 20, Peak XV announced a total of $1.3 billion in new capital commitments across an India seed fund, an India venture fund and an Asia-Pacific fund. The new funds, together with uninvested capital in existing growth funds, support companies at different stages; the announcement continued to name artificial intelligence, fintech and consumer as focus areas.⁠[17]

In June, Peak XV participated in the $60 million Series B of payroll software company Warp, led by Battery VenturesBattery VenturesBattery Ventures is a global venture capital and private equity firm focused on technology companies, investing from seed-stage startups through growth investments and buyouts.Open the full entry.⁠[18]

On August 12, Peak XV announced it had led Blacksmith’s $45 million Series B. Its investment thesis treated the building, verification and integration of AI-generated code as an infrastructure opportunity, focusing on the company’s hardware and software compute platform designed around these workloads.⁠[19]

On September 29, Surge announced its twelfth cohort of 18 early-stage companies spanning artificial intelligence, robotics, space technology, consumer, healthcare, music and fintech; three of them had not yet been publicly named. Rajan Anandan said these companies are trying to redesign the user experience, with artificial intelligence increasingly becoming the underlying architecture of products.⁠[20]

On October 8, 2026, Catalyst, an artificial intelligence trading start-up, announced a $30 million seed round led by Sequoia Capital, with Peak XV among the participating investors; the other participants included Jump Trading, Lux CapitalLux CapitalLux Capital is a U.S. venture capital firm founded in 2000 by Peter Hébert, Josh Wolfe and Robert Paull, with offices in New York and Silicon Valley. Focused on emerging science and technology, the firm backs companies in fields including life sciences, artificial intelligence, robotics, manufacturing, aerospace and defense through fund investments and by helping to found companies.Open the full entry, Anti FundAnti FundAnti Fund is an investment firm co-founded in 2021 by Jake Paul and Geoff Woo, investing from pre-seed and seed stages through growth-stage companies. The firm combines technical judgment with its founders’ experience in media and consumer brands, focusing on artificial intelligence, robotics, defense and related infrastructure.Open the full entry, Coinbase and Premji InvestPremji InvestPremji Invest is an investment firm established by Azim Premji in 2006, operating across private and public markets in India and the United States, with investment returns primarily supporting the philanthropic work of the Azim Premji Foundation. Its investment areas include technology, financial services, consumer, healthcare and industrials.Open the full entry. Catalyst builds AI agents that translate natural language instructions into trading strategies; $30 million is the total size of the round.⁠[21][21][22]

As of October 2026, Peak XV manages more than $10 billion in assets, has invested in more than 450 companies, and has seen 36 IPOs across five countries. The firm invests in India, Asia-Pacific, the United States and other innovation markets; its operating team helps portfolio companies with hiring, fundraising, market expansion, and legal and compliance.⁠[23]

As of 2026, Surge provides up to $5 million in seed capital per company through equity investment, does not require a board seat at the early stage, and accepts applications on a rolling basis throughout the year. The annual immersion program lasts eight weeks, and the platform support founders receive can continue into later stages of growth.⁠[6]

As of October 2026, the firm has seven managing directors: Abhishek Mohan, G. V. Ravishankar, Mohit Bhatnagar, Rajan Anandan, Rohit Agarwal, Sakshi Chopra and Shailendra Singh. The operating leadership includes chief financial officer Harshal Kamdar, chief operating officer Saipriya Sarangan and chief legal officer Mohit Abraham.⁠[24]

Peak XV Partners: Official website: https://www.peakxv.com/ (opens in a new window).⁠[25]

Surge: Official website: https://surge.peakxv.com/ (opens in a new window).⁠[6]