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Business News/ Companies / News/  Sequoia India is now Peak XV Partners

Sequoia India and Southeast Asia, the largest venture capital firm in the region managing over $9.2 billion across 13 funds, will now be known as Peak XV Partners globally.

Peak XV will operate as a fully independent firm, the VC firm said in its statement.

The firm will continue to back founders from its current funds which include $2.5 billion ( 20,000 crore) of uninvested capital.

"The rebranding has come after Sequoia Capital (US/Europe), Sequoia China and Sequoia India and Southeast Asia have decided to become independent firms with distinct brands," the VC firm added.

Since inception, Sequoia Capital (US/Europe), Sequoia China and Sequoia India/SEA have been built as separate businesses with independent investment decision-making.

Over the years, the strategies for each business have diverged and the scale and market leadership across different geographies has started to result in brand confusion and portfolio conflict, the VC firm stated.

This has led the leaders of each business to collectively decide to move to fully independent partnerships with distinct brands, in order to serve founders and Limited Partners in the best manner, it added.

Shailendra Singh, managing director, Peak XV Partners said, “It’s a new beginning for us as Peak XV Partners, but unlike most beginnings, this is an opportunity for us to build on top of the foundation laid over the last 17 years. Our firm will continue to be managed by the present leadership team and will continue to invest from the most recently raised set of funds focused on India and Southeast Asia."

“We are seeing companies emerge from every region with global ambitions. The flexibility that comes with the new structure will open up an unbounded global opportunity and help create more value for our founders and LPs," Singh said. "There will be no change in the way we manage our portfolio relationships. We will invest across SaaS, AI, developer tools, cyber security, cloud, fintech, climate tech."

Over the last 17 years, Sequoia India & SEA has raised 13 funds, invested in over 400 startups, with over 50 companies valued at $1 billion and above. The portfolio has seen 19 IPOs and multiple M&As resulting in $4.5 billion of realized exits so far. The investment team is led by 11 managing directors with an average tenure of over 12 years at the firm.

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Updated: 06 Jun 2023, 06:28 PM IST
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