Peak XV Partners, a prominent venture capital firm operating across India and Southeast Asia, is navigating a significant leadership reshuffle. The firm recently saw the departure of senior partners Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma, following an internal disagreement. This comes as Peak XV intensifies its focus on AI investments and prepares for a U.S. expansion, all while reaffirming India as its largest market.
Managing Director Shailendra Singh confirmed the departures, citing an internal disagreement with Agrawal that led to a mutual decision. Singh declined to elaborate on the specifics, emphasizing privacy and the firm's desire to move forward quickly after years of collaboration. He noted that such exits are not uncommon in large, multi-stage venture firms. Singh also assured that the transition of board seats held by the departing partners would be seamless, as Peak XV already has extensive overlapping representation across its portfolio companies, ensuring continuity. The departing partners were long-serving investors: Agrawal for over 13 years, Mittal for more than nine, and Sharma for over seven, according to their LinkedIn profiles.
In a LinkedIn post, Agrawal announced his decision to "take the entrepreneurial plunge," revealing plans to launch a new venture capital firm alongside Mittal and Sharma. He framed this as an opportunity to build a new institution with long-term partners, expressing gratitude to Peak XV's leadership for a "truly wonderful partnership." During his tenure at Peak XV, Agrawal spearheaded investments in fintech, consumer, and software sectors, notably including Groww, a significant IPO exit for the firm in 2025. He, along with Mittal and Sharma, also supported numerous early and growth-stage companies, contributing significantly to Peak XV's portfolio expansion over the last decade. The departing partners did not respond to requests for comment.
Internal Strengthening and Notable Exits
Concurrently, Peak XV is bolstering its internal leadership. The firm recently promoted Abhishek Mohan to General Partner, strengthening its investment team, and elevated Saipriya Sarangan to Chief Operating Officer, overseeing firm-wide operations. These leadership adjustments coincide with a remarkable year for Peak XV's portfolio exits. In November and December 2025, five of its portfolio companies—Groww, Pine Labs, Meesho, Wakefit, and Capillary Technologies—successfully completed IPOs. These public listings generated approximately ₹300 billion (around $3.33 billion) in unrealized, mark-to-market gains, alongside about ₹28 billion (about $310.61 million) in realized gains from share sales during the IPOs.
These recent departures are part of a broader trend of senior leadership changes at Peak XV over the past year. Notable exits in the last 12 months include investment leaders Harshjit Sethi and Shailesh Lakhani from the India team, and Abheek Anand and Pieter Kemps from Southeast Asia operations, alongside shifts in marketing, policy, and operations teams. Addressing market speculation that key partners behind Peak XV's major exits have left, Singh asserted this narrative was "not statistically true." He emphasized that many significant outcomes were driven by long-tenured partners still with the firm, underscoring that Peak XV's strong exit track record is not reliant on any single individual. The firm currently maintains a robust leadership structure with seven general partners, supported by numerous partners and principals.
Doubling Down on AI and Global Expansion
Peak XV, which spun off from Sequoia Capital in 2023 and manages over $10 billion across 16 funds, is significantly ramping up its focus on AI. The firm has already made approximately 80 AI-related investments and plans to open a U.S. office within the next 90 days to expand its global reach, while reaffirming India as its largest and most crucial market. Singh articulated Peak XV's belief that AI will fundamentally transform venture investing more than any prior technological shift. He stressed the need for investors with deep technical expertise in AI, moving beyond a "generalist" approach. Consequently, Peak XV is actively seeking to recruit more AI-native talent, including researchers and engineers specializing in machine learning and large-scale model development. To date, the firm boasts a portfolio of over 400 companies, with more than 35 initial public offerings and numerous M&A exits.
