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Two older partners are leaving Peak XV , one of the earth ’s largest speculation capital business firm , four source familiar with the affair told TechCrunch .
Shailesh Lakhani , a 17 - year veteran of the business firm , and Abheek Anand , who co - pass Southeast Asiatic investments , are pull up stakes , said the sources , requesting namelessness .
Peak XV did n’t immediately answer to requests for comment . Both pardner confirmed their divergence after publication of this story .
The exits follow Peak XV ’s determination in October tocut its fund size of it by more than $ 400 million to $ 2.40 billionand tighten direction fees , moves that chew over grow caution in India ’s speculation food market after years of surge valuations .
At the time , Peak XV say it was trimming the fund to become more “ deeply aligned ” with its modified partners .
Lakhani ( image above , on the leftfield ) has been behind several successful investments for Peak XV , including beauty brand Minimalist , which last calendar month sold to Hindustan Unilever for $ 350 million , as well as Ixigo and Truecaller , both of which went public . At least three of the companies he lead investments in — Zetwerk , Capillary , and Porter — arepreparing for IPOswithin 12 to 15 months . Other companies he make for into Peak XV ’s sheep pen include OneCard , Polygon , CoinSwitch , HealthKart , and CarDekho .
“ As my fourth dimension at Peak XV / Sequoia India hit 17.5 age , I ’ve decided it ’s the right moment to ill-treat back from the firm . It has been an unbelievable journey — one that begin in August 2007 , when India ’s startup ecosystem was in its infancy , to today , where it support as one of the most vibrant in the world . I would n’t have traded this courtside seat for anything , ” Lakhaniwrotein a tweet .
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Anand has led investment in edtech startup Cuemath , payments business firm Sunrate , travel fintech Slice , craft platform Openborder , Indonesian e - commerce company Ula , and online grocer Grofers ( acquired by Zomato and rebranded to Blinkit , now the top quick - commerce byplay in India ) . Anand join the house 12 years ago .
The two will cover to hold some of their existing plank representations , other people familiar with the subject said .
The two exits — the first set of fourth-year departures — are the late in a serial publication of exits at Peak XV , whichsplit from Sequoia in mid-2023 . That rip , the firms said , was driven by the need to stave off conflict amid rising U.S.-China tensions . Peak XV , formerly Sequoia Capital India , rebranded and became independent while retain the largest speculation working capital operation in India and Southeast Asia .
The business firm still has 10 managing music director overseeing more than 400 portfolio companies , which admit over 50 unicorns .
The changes come as India ’s venture industry confront a cooldown after days of aggressive growth . investor have farm more selective , emphasizing profitability over the growth - at - all - cost model that dominated during the bull years following the COVID-19 pandemic .
