The two are parting ways on amicable terms, two sources exclusively tell TechCrunch.
Piyush Gupta, one of Peak
Mr. Gupta joined Peak XV, formerly known as Sequoia Capital India & SEA, in 2017 to lead the strategy development team for impact ventures. Prior to joining Peak XV, he worked at Morgan Stanley and Deutsche Bank for more than a decade, where he focused on similar things such as mergers, acquisitions, and IPOs.
Although Mr. Gupta did not serve as an investment partner at Peak I accomplished it.
News of Mr. Gupta's departure was communicated to limited partners from Peak XV Partners at last month's annual general meeting, according to people familiar with the matter, and the fund also revealed plans to launch a permanent fund funded by investment partners and investors. did. expansion team.
According to two people familiar with the situation, the two plan to part ways on amicable terms. Mr. Gupta plans to launch a secondaries focused fund and Peak XV will work closely with him to facilitate transactions in its portfolio companies.
Peak XV declined to comment, and Mr. Gupta did not respond to text messages.
Secondary trade is on the rise in India. Peak XV itself has experienced several exits (Pine Labs, K12) through secondary transactions over the past two years.
SentinelOne acquired early-stage Indian startup PingSafe for more than $100 million earlier this year, TechCrunch previously reported. PingSafe, which counts Peak XV's Surge among its backers, had raised less than $4 million before the acquisition deal.