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Peak XV Partners , the largest India and Southeast Asia - focalize venture investment firm , has realize about $ 1.2 billion in exits since itsseparation from Sequoialast year , two sources familiar with the matter severalise TechCrunch .
The investor has sell stakes in almost a dozen portfolio companies that went public in the retiring year , including food delivery group Zomato , cosmetics retailer Mamaearth , and spam protection firm Truecaller .
It has also sold holdings in some individual startup , include K12 Techno , Pocket Aces , andPingSafe , through secondary transactions and M&A. The firm ’s current funds total $ 2.85 billion .
Peak XV declined to annotate .
The stir of exits come as India ’s gillyflower market place attain record high , with the country ’s equity trading at a meaning premium to other emerging markets . Macquarie analysts write in a recent bank bill that India ’s monetary value - to - profit proportion stands at about 21 time , compare with 10 time for come out marketplace overall , 14.5 times for world-wide markets , 17 multiplication for the U.S. , and 8 times for China .
The IPO windowpane has also cracked open in the land , even though the grocery store for new debuts remains inhibit in the U.S. and much of the world . Indian house have raised about $ 9 billion via IPOs this year , and more are expected to list before the class ends , Bank of America analyst judge .
A $ 500 million mental block swop in Five - Star Business Finance , a Peak XV portfolio caller , that started on Thursday was more than half - way done by 11:30 a.m. India standard time .
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Peak XV ’s dominance in the area has draw intense interest and examination , owe to its scale and aggressive investment approach . The firm ’s Surge program , which offers well-disposed term and wide resource to other - stage inauguration , has becomea sought after launch area for untested startup in India and Southeast Asia , pretty eclipsing the appeal of Y Combinator ’s offer .
to begin with this year , Peak XV informed its limited spouse that it waslaunching a perpetual fund gage by its own pardner , signaling a gamey level of confidence in its recollective - term scheme and the region ’s potentiality .
The firm ’s journey , which began over a X ago under the Sequoia banner , has culminate in a staggering $ 9 billion of plus under management , and it has an additional $ 2 billion that ’s yet to be deployed . Its portfolio spans over 400 companies , of which more than 50 are unicorns , and about 40 have reach one-year revenues exceeding $ 100 million .
Peak XV has also facilitated more IPOs than any other India - focused venture fund . Since 2020 alone , 15 of its portfolio companionship have successfully gone public .
Sequoia last year split its China and India - Southeast Asia fund amid geopolitical tensions between the U.S. and China . The firms say they had agreed to separate to avoid “ develop market place mix-up ” and “ portfolio conflicts across entities . ”
The move sent shockwaves through the industry . Peak XV has since broadened its focus to mart beyond India and Southeast Asia , and has also expanded its team to the U.S.
In June this class , venture house Matrix said that it wouldalso rebrand its India and China affiliates .
