Mettle Capital Launches with Ex-Peak XV Partners

Mettle Capital is a new venture capital firm established by three former Peak XV Partners executives: Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma. According to a report by ET, Mettle Capital aims to raise a fund of approximately $350 million to $400 million to invest in startups in India. This development comes after the senior investment professionals exited their roles last month.

Confirmation of New Venture

In a recent post on X, Sharma confirmed that the trio has united to form this exciting new venture capital firm. Each of the partners boasts over a decade of experience at Peak XV, as well as with its predecessor, Sequoia Capital India. Their investment focus has spanned various sectors, including consumer internet, fintech, and enterprise software.

Investment Focus of Mettle Capital

Mettle Capital plans to primarily focus its investments on early-stage companies, particularly Series A and Series B startups. The firm also intends to selectively participate in seed-stage investments. Reports indicate that Mettle is poised to begin its investment journey later this year, once fundraising is complete.

Fundraising Goals and Timeline

Mettle aims to execute 5 to 6 investments annually and hopes to close its current round of fundraising within the next quarter. According to the report, the firm is targeting to start deploying capital by September to October.