Peak XV announced on Friday that it has raised $1.3 billion across new India and Asia-focused funds. The firm, which now manages more than $10 billion in assets, is sharpening its focus on artificial intelligence and cross-border bets amid intensifying competition for deals in the region.
The capital will be deployed across its India seed and venture funds as well as its APAC vehicle. A majority is earmarked for India, with the firm expecting to invest the pool over the next two to three years, managing director Shailendra Singh said in an interview on Friday.
Peak XV split from Sequoia Capital in 2023, in an effort to separate the India-focused portions of Sequoia’s portfolio. The firm now counts more than 450 portfolio companies across fintech, software, and consumer internet, spanning seed to growth stages.
The firm’s new fundraise comes as New Delhi hosts the AI Impact Summit, drawing major technology players including OpenAI, Anthropic, and Google. At the event, General Catalyst outlined plans to invest $5 billion in the country over the next five years, sharply increasing its earlier commitment to the market.
Singh said Peak XV is not trying to match rivals dollar-for-dollar, emphasizing that the firm’s priority is generating strong returns rather than maximizing assets under management. The firm will continue to size its funds based on where it sees the best opportunity to deliver “high-performing funds,” he said.
He added that Peak XV is still building its presence in the U.S. and is selective about where it competes. “In the U.S. market, we are an underdog — and that’s great,” Singh said, adding that the firm is focusing on areas where its experience in software, developer tools and fintech gives it an edge.
The latest fundraise follows a period of leadership changes at Peak XV, including the recent departures of senior partner Ashish Agrawal and investors Ishaan Mittal and Tejeshwi Sharma. Singh told TechCrunch the firm retains significant experience on its leadership team, noting that five of its seven managing partners have been with Peak XV for more than a decade. The broader Peak XV team includes more than 30 full-time investors, with about a dozen leading investments across its markets.
Techcrunch event Save up to $300 or 30% to TechCrunch Founder Summit 1,000+ founders and investors come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediately.
Offer ends March 13. Save up to $300 or 30% to TechCrunch Founder Summit 1,000+ founders and investors come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediately
... continue reading