Peak XV Partners has closed $1.3 billion in fresh capital commitments across its India and Asia-focused funds, reinforcing its strategy to back artificial intelligence-led innovation and cross-border opportunities. With more than $10 billion in assets under management, the firm is positioning itself more sharply in AI and high-growth sectors at a time when competition for quality deals across the region is intensifying.
The newly raised capital will be deployed through its India Seed, India Venture, and APAC funds, with the bulk of the corpus earmarked for India. Managing Director Shailendra Singh said the firm expects to invest the funds over the next two to three years. Alongside this raise, Peak XV also has significant uninvested capital in its existing Growth fund, strengthening its ability to support founders from early to later stages.
In a statement shared publicly, the firm said, “Along with significant uninvested capital in our existing Growth fund, we are excited about our ability to back outlier founders building category-defining companies across multiple stages, as we have done for two decades.”
Peak XV has built a broad portfolio of more than 450 companies across fintech, software, and consumer internet, spanning seed to growth stages. The firm emerged as an independent entity in 2023 after splitting from Sequoia Capital to separate the India-focused arm of Sequoia’s business.
The announcement comes as New Delhi hosts the AI Impact Summit, which has drawn global technology leaders including OpenAI, Anthropic, and Google. At the same event, General Catalyst outlined plans to deploy $5 billion in India over the next five years, significantly increasing its prior commitment to the market.
Singh clarified that Peak XV is not looking to compete purely on fund size. Instead, the firm is focused on delivering strong returns rather than expanding assets under management for scale alone. He noted that fund sizes will continue to reflect where the firm sees the best opportunities to create “high-performing funds.”
Beyond India and Asia, Peak XV is also gradually building its presence in the United States. Singh described the firm as selective in how it approaches the U.S. market, saying, “In the U.S. market, we are an underdog — and that’s great,” adding that the firm is concentrating on areas such as software, developer tools, and fintech where it believes its experience provides a competitive advantage.
The latest fundraise follows a period of internal leadership transitions, including the departures of senior partner Ashish Agrawal and investors Ishaan Mittal and Tejeshwi Sharma. However, Singh has emphasised continuity within the leadership team, noting that five of the firm’s seven managing partners have been with Peak XV for more than a decade. The broader investment team comprises more than 30 full-time investors, with around a dozen leading investments across its markets.
With this $1.3 billion raise, Peak XV signals continued confidence in India and the broader Asia-Pacific startup ecosystem, particularly in sectors shaped by AI and deep technology innovation.
