Peak XV Partners managing director Harshjit Sethi has resigned from his position, adding to a slew of top-level exits at the venture capital firm.

Sethi led investments in companies like Sarvam AI, Darwinbox, smallcase, Turtlemint among others. He was Peak XV's representative as non-executive director at BharatPe board. He witnessed the fintech navigate a turbulent phase marked by disputes involving managing director Ashneer Grover.

Sethi spent over 12 years with Peak XV Partners (formerly Sequoia Capital India). The top VC firm over the past year has seen a series of exits of its managing directors, including Shailesh Lakhani, Abheek Anand, Piyush Gupta.

Piyush Gupta launched his own investment firm called Kenro Capital in November 2024, which focuses on secondary transactions in India and Southeast Asia. Kenro Capital invests $20-$30 million in minority stakes in profitable, growth-stage companies.

Confirming his departure, Sethi wrote on a LinkedIn post, "After a decade at Sequoia India and Peak XV, I’ve decided to leave the firm and explore a new innings. It’s been a journey rich in learning and relationships."

"When I first moved back from the Bay Area in 2015, both India and venture capital were experiments for me. Looking back, I’m glad I made the choice. The Indian startup ecosystem has evolved tremendously – the ambition of founders, scale of companies, digital infrastructure on which they are built, and the vibrancy of our capital markets have all grown faster than I first predicted. I have had the fortune of working with founders who turned early conviction into businesses of scale and consequence," he added.

This is not the first time the VC firm is seeing a series of top-level exits. In 2017-2018, senior executives at then Sequoia Capital India, including VT Bharadwaj, Gautam Mago, and Abhay Pandey also quit. The trio went on to form their own venture capital firm A91 Partners in 2018.