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📂 **Category**: AI,Fintech,Startups,Venture,Exclusive,Peak XV,Sequoia Capital,shailendra singh
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Peak XV announced on Friday that it has raised $1.3 billion across new funds focused on India and Asia. The company, which now manages more than $10 billion in assets, is increasing its focus on artificial intelligence and cross-border betting amid intense competition for deals in the region.
The capital will be deployed across its seed and venture funds in India as well as its vehicles in the Asia Pacific region. The majority is for India, where the company expects to invest the complex over the next two-three years, managing director Shailendra Singh said in an interview on Friday.
Peak XV was spun off from Sequoia Capital in 2023, in an attempt to spin off the India-focused parts of Sequoia’s portfolio. The company now includes more than 450 companies in the fintech, software and consumer internet industries, from seed to growth stages.
The company’s new fundraising campaign comes as New Delhi hosts the AI Impact Summit, which attracts 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, significantly increasing its previous commitment to the market.
Peak XV is not trying to match its competitors dollar for dollar, Singh said, stressing that the company’s priority is to achieve strong returns rather than maximizing assets under management. He said the company will continue to size its funds based on where it sees the best opportunity to deliver “high-performance funds.”
He added that Peak XV is still building its presence in the United States and is selective about where it competes. “In the US market, we are an underdog — that’s a great thing,” Singh said, adding that the company is focusing on areas where its expertise in software, developer tools and fintech gives it an advantage.
The latest fundraising 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. The company retains significant experience on its leadership team, Singh told TechCrunch, 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 around ten lead investments across its markets.
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Peak XV has returned more than $7 billion in cash to investors since its inception, Singh said, adding that 35 of its portfolio companies have gone public. He declined to specify distributions since the company separated from Sequoia Capital. In September 2024, TechCrunch reported that the company had returned about $1.2 billion in the year.
Before the current raise, Peak This figure was later reduced to about $2.4 billion as part of what Singh described as a disciplined approach to capital. The previous pool included Peak XV’s growth strategy in India, and Singh said the company does not plan to raise a new growth fund until more of this dry powder is deployed.
Singh expects the new capital to be deployed primarily in AI, fintech and consumer startups, with opportunities emerging in deep tech as well. The company has made more than 80 investments in AI startups to date. He added that US-India relations are becoming increasingly important as more founders in the region seek global markets.
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