Peak XV Partners Raises New Fund for Early-Stage Investments

Peak XV Partners, previously known as Sequoia Capital, is in the process of raising a new investment fund, estimated to be between $1.2 billion and $1.4 billion. This marks the first fundraising effort of the Silicon Valley-based venture capital firm in India after its rebranding and split from the principal entity that occurred in 2023.

As reported by The Economic Times, the fresh influx of capital will focus on early-stage investments within India and Southeast Asia. In 2022, Peak XV revealed plans for $2.85 billion in growth and venture funds targeting both India and Southeast Asia, with a significant $2 billion specifically allocated for investments in India. However, due to the expensive public market conditions in India at the time, the fund size saw a reduction of 16% in 2024.

Peak XV Portfolio Expands Ahead of Public Offerings

This announcement arrives at a crucial time when several companies backed by Peak XV, such as Meesho, Zetwerk, Groww, and Pine Labs, are gearing up for their entries into the public market. In recent years, numerous firms in Peak XV’s portfolio, including Zomato, Mamaearth, Ixigo, Awfis, Go Digit General Insurance, Blackbuck, and Mobikwik, have successfully gone public.

Recent Investments by Peak XV Partners

Following its rebranding, Peak XV has made significant investments in a variety of companies, including Scapia, RapidCanvas, Sarvagram, Atlys, Neo, Mokobara, Sarvam AI, and Neo.

While Peak XV Partners has chosen not to comment on this latest development, the current year has demonstrated a robust venture capital fundraising environment, despite startup funding remaining stagnant during the first quarter (Q1 2025). A91 Partners, established in 2018 by former partners of Peak XV, recently announced the successful closing of its third fund, raising $665 million. Additionally, the venture capital firm Accel introduced its eighth fund with an allocation of $650 million aimed at nurturing early-stage startups in India and Southeast Asia. Bessemer Venture Partners also announced the closure of a $350 million early-stage venture fund, and Fireside Ventures is reportedly negotiating to raise $230 million for its fourth fund.