Venture capital firm Peak XV has raised $1.3 billion in new capital commitments across its India seed, venture, and APAC funds.
This closing marks the company’s first fully independent fund since its separation from Sequoia Capital in 2023. The capital has been secured from a diverse group of limited partners (LPs), including endowments and foundations.
Peak XV’s team has also committed capital to the fund alongside other investors.
“We are immensely grateful for the steadfast commitment from our limited partners,” said Shailendra Singh, Managing Director at Peak XV, in a statement.
“We recognise that every fundraise represents a responsibility to both our LPs and to the founder ecosystem, and we remain deeply committed to serving them,” he said.
The firm said it also has a significant amount of uninvested capital in its existing growth fund.
Peak XV invests in startups across India and the Asia-Pacific region, backing companies from early stages through to public listings.
The firm said it will continue to focus on its core sectors of AI, fintech and consumer, while also expanding investments in emerging areas such as deep tech.
“This is an extraordinary time for technology innovation across India and APAC. The scale of opportunity, depth of talent, and growing global ambition among founders make this one of the most exciting periods we have seen,” said Singh.
Earlier this month, Peak XV announced the exit of managing director Ashish Agrawal, describing it as a mutual decision taken after discussions. The firm added that two other investors, Ishaan Mittal and Tejeshwi Sharma, chose to leave following Agrawal’s departure.
The three are now in the process of raising their own fund.
Over the past 20 years, Peak XV has grown to manage more than $10 billion across 16 funds and has invested in over 450 companies. Its portfolio companies have recorded more than 35 IPOs, along with several mergers and acquisitions.
The firm is estimated to account for roughly one-fifth of the total capital invested in Indian startups, with over 50 unicorns in its portfolio, including companies such as Groww, Zepto, Zomato, Razorpay, and Wakefit, to name a few.
