Peak XV Partners raises $1.3 billion first fund after Sequoia split
23 Feb 2026, 11:17 AMThe fund was raised across three vehicles - India seed fund, India venture fund and Asia Pacific fund - to invest in companies across stages.
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Peak XV Partners, backer of companies such as Zomato, Pine Labs, Groww, Meesho and Rebel Foods, has raised its first independent fund with a total corpus of $1.3 billion since its split from Sequoia Capital in 2023.
The fund was raised across three vehicles -- India seed fund, India venture fund and Asia Pacific fund -- to invest in companies across stages, said Peak XV Partners in a statement.
The Limited Partners (LPs), or investors, in the fund are non-profit endowments and foundations , it added without disclosing their names.
"We understand every fundraise is a responsibility to the founder ecosystem and to our LPs, and we are relentlessly committed to serving them," it noted.
Is also said that it has significant uninvested capital in its existing growth fund.
The fundraising announcement comes close on the heels of another top-level exits at the venture capital firm.
Earlier this month, Peak XV Partners had said that Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma are leaving. The trio said that they will be launching their own venture fund. Meanwhile, the venture capital firm had also promoted Abhishek Mohan to General Partner/Managing Director.
During the announcement of the top-level exits, Peak XV Partners had said that parting ways with them was in the best interest of its LPs and the long-term interest of the firm.
In the latest statement, Peak XV Partners said that AI opportunities are now abundant in India and APAC.
"The size, scale and sophistication of technology startups is deeply inspiring across both India and APAC," it added.
It also noted that the fintech ecosystem is "already one of the most advanced in the world" and the consumer opportunity has decades of compounding ahead.
"The combination of technical innovation, deepening markets, quality of talent and increasing global ambition makes this an amazing time to be investing in the region," it said.
Peak XV Partners, formerly Sequoia Capital India and Southeast Asia, manages over $10 billion in capital across 16 funds. It has backed over 450 companies since 2006 and over 35 companies in its portfolio have floated IPOs.
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