Peak XV aims to become a key LP in the company's future business and explore investments across various asset classes, creating an 'Evergreen' fund funded by investment partners and an extended team. a person familiar with the matter told TechCrunch.
The most influential investor in India and Southeast Asia revealed the news to its limited partners at its annual general meeting in New Delhi this week. With the “forever” fund, Peak XV aims to bring “a culture of high accountability and collaboration with LPs” and a “differentiated” ability to grow as an organization, according to LP sources familiar with the matter. It is said that there is
Venture firm Peak XV, formerly known as Sequoia's India and Southeast Asia arm, did not disclose the size of the new fund. More than 100 of the company's limited partners are in New Delhi this week to work with venture companies.
The new fund, called the Peak XV Anchor Fund, will be funded by an internal balance sheet, said the people, who requested anonymity because the matter is private. According to LP sources, the fund will allow Peak XV to “build a global network for learning and collaboration.”
The fund will allow Peak XV Partners to pursue a broader range of activities with its funds and also explore new areas of investment, the people said. TechCrunch was unable to identify those new areas. With the Peak XV Anchor Fund, the venture will partner with other “executives across geographies, strategies and sectors.”
Peak XV did not immediately respond to a request for comment.
Peak XV Anchor Fund is the latest in a series of major investments in India and Southeast Asia, where the group manages more than $9 billion in assets under management. The $2.85 billion fund, which provided $2.5 billion of dry powder to the region during its separation from Sequoia, was also early to launch an early-stage focused program called Surge. Y Combinator was far less attractive to startups in India and Southeast Asia. .