Peak XV announced on Friday that it has raised $1.3 billion in new funds focused on India and Asia. The firm, which now manages more than $10 billion in assets, is sharpening its focus on artificial intelligence and cross-border bets amid intensifying competition for business in the region.
The capital will be deployed across its Indian seed and venture funds as well as its APAC vehicle. The majority is earmarked for India, with the firm expecting the fund to invest over the next two to three years, CEO Shailendra Singh said in an interview on Friday.
Peak XV spun off from Sequoia Capital in 2023 in an effort to spin off parts of Sequoia’s India-focused portfolio. The company now has more than 450 portfolio companies across fintech, software and consumer internet, from seed to growth stages.
The company’s new fundraising comes as New Delhi hosts the AI Impact Summit, which attracts major tech 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 earlier commitment to the market.
Singh said Peak XV is not trying to match rivals dollar for dollar, stressing that the firm’s priority is generating strong returns rather than maximizing assets under management. The firm will continue to size its funds based on where it sees the best opportunity to deliver “high-performing funds,” he said.
He added that Peak XV is still building its presence in the US and choosing where to compete. “We’re the underdog in the US market — and that’s great,” Singh said, adding that the firm is focusing on areas where its experience in software, developer tools and fintech gives it an edge.
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. Singh told TechCrunch that the firm retains significant experience in its leadership team, noting that five of its seven managing partners have been with Peak XV for more than a decade. Peak XV’s wider team includes more than 30 full-time investors with around a dozen leading investments across its markets.
Techcrunch event
Boston, MA
|
June 9, 2026
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 firm’s split from Sequoia Capital. In September 2024, TechCrunch reported that the firm returned about $1.2 billion for the year.
Before the current raise, Peak XV’s previous fund had $2.85 billion at the end of 2021, before the firm was spun off from Sequoia Capital. That number was later reduced to about $2.4 billion as part of what Singh described as a disciplined approach to capital. The earlier fund included India’s Peak XV growth strategy, and Singh said the firm does not plan to raise a new growth fund until more dry powder is deployed.
Singh expects to deploy the new capital primarily in AI, fintech and consumer startups, while also seeing new opportunities in deep tech. The firm has made more than 80 investments in AI startups to date. He added that the relationship between the US and India is increasingly important as more founders in the region build for global markets.