Sequoia rebrands to Peak XV Partners in India and SEA

Silicon Valley-based venture capital firm Sequoia will split into three separate firms which will focus on its key markets - the US and Europe, China, and India and Southeast Asia.

Following the move, Sequoia India and Southeast Asia has been rebranded as Peak XV Partners.

The US and Europe-focused unit will retain the parent name - Sequoia Capital. The China unit, on the other hand, will be called HongSham. The three firms will be headed by Roelof Botha, Neil Shen and Shailendra Singh, respectively.

According to the firm, the full separation will be done before March 2024.

“We are excited to share that Sequoia India & Southeast Asia (SEA) will rebrand to Peak XV Partners and will operate as a fully independent firm. Our new name, Peak XV was the original name given to Mount Everest,” said Shailendra Singh on behalf of Peak XV Partners.

Peak XV Partners, erstwhile Sequoia Capital India, is among the  largest venture capital firms in the country and the Southeast Asia region with over 400 startups in its portfolio. It has seen over 50 companies cross $1 billion in value already, celebrated 19 IPOs and multiple successful M&A events, as per the VC firm.

Sequoia Capital will continue to manage $9.2 billion across 13 funds and will further invest in India and the SEA region from Peak XV Partners’ $2.5 billion of un-invested capital.

Peak XV will be sector agnostic as it was in the past, and will invest across sectors, including SaaS, AI, developer tools, cyber security, cloud infrastructure, fintech, climate tech, healthtech and consumer internet.

Besides VC firms, it will also double down on its startup programs like Surge and Spark. Launched in 2019, Surge helps raise capital for the startups participating in the program across India and SouthEast Asia. After the addition of the eighth cohort, the Surge community has over 300 founders and 130 startups across 16 industries.