Peak XV closes $1.3 Bn fund for India and APAC

Peak XV Partners on Friday announced the closing of $1.3 billion in fresh capital commitments across its India Seed, India Venture, and Asia Pacific funds. This is the firm’s first fundraise since its separation from Sequoia Capital.

In a post on X, Peak XV Partners said the new capital, along with uninvested capital from its existing growth fund, will strengthen its ability to back founders building category-defining companies across multiple stages. The firm said it continues to focus on supporting outlier founders, a strategy it has followed for over two decades.

The announcement comes as Peak XV sees increasing opportunities driven by artificial intelligence across India and the broader Asia Pacific region. The firm said that while early AI breakthroughs were concentrated in Silicon Valley, the opportunity set has expanded, supported by improving market depth, talent quality, and global ambition among startups in the region.

In an interview with ET, Peak XV Partners managing director Shailendra Singh said the firm will continue to invest across seed, venture and growth stages, writing cheques ranging from single-digit million dollars to $100 million, while sharpening its cross-border strategy to build an India-APAC corridor.

The latest fundraise follows Peak XV’s 2022 announcement of $2.85 billion in growth and venture capital commitments for India and Southeast Asia, with $2 billion allocated to India. The firm later reduced the fund size by 16 percent in 2024, citing elevated public market valuations in India.

The fundraise also comes at a time when several Peak XV portfolio companies are seeing public market momentum. Meesho, Groww, and Pine Labs have listed, while Zetwerk, Curefoods, and Infra.Market are preparing for initial public offerings.

Since its split from Sequoia Capital, Peak XV has backed startups including Scapia, RapidCanvas, Sarvagram, Atlys, Mokobara, Stable Money, GoodScore and Sarvam AI.