Peak XV Partners, formerly Sequoia Capital India, is navigating a strategic realignment as it reduces its fund size from $2.85 billion to $2.4 billion in October. This move, aimed at achieving deeper alignment with limited partners, also includes a reduction in management fees. The firm, which rebranded and became independent amid US-China tensions, continues to assert its dominance as a significant venture capital operation in India and Southeast Asia.
The restructuring comes alongside the departure of two senior managing directors, Shailesh Lakhani and Abheek Anand. Lakhani, a 17-year veteran, and Anand, who co-led the firm's Southeast Asian investments for 12 years, will maintain some of their existing board representations. Anand's portfolio includes companies such as Zetwerk, Capillary, and Porter, all of which are gearing up for public offerings within the next 12 to 15 months.
Despite the leadership changes, Peak XV remains steadfast in its mission. It continues to oversee more than 400 portfolio companies with a team of ten managing directors. Among these are over 50 unicorns, underscoring the firm's robust investment strength. Notable successes include the sale of beauty brand Minimalist to Hindustan Unilever for $350 million and public listings of companies like Ixigo and Truecaller.
The independence from Sequoia Capital was spurred by the necessity to avoid conflicts in light of escalating US-China tensions. This strategic split has not deterred Peak XV from its investment goals. In fact, the firm seeks to leverage its autonomy to further its reach and influence in the venture capital landscape of India and Southeast Asia.
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