Peak XV’s Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma exit to launch new VC fund

Venture capital firm Peak XV Partners has seen the exit of three senior investment professionals Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma as part of an ongoing leadership transition at the firm.

Peak XV said the decision to part ways with Agrawal was mutually agreed upon after discussions around the long term interests of its limited partners and the institution. Following his departure, Mittal and Sharma also decided to step away.

Meanwhile, Peak XV has promoted Abhishek Mohan to General Partner and elevated Saipriya Sarangan to Chief Operating Officer as it sharpens its focus on artificial intelligence led investing.

In a post on X, Sharma confirmed that the three departing partners are coming together to launch a new venture capital firm. Sharma joined the firm in 2012 and has spent over a decade investing in early stage founders across India’s technology ecosystem. Details related to the proposed fund including its size, focus areas and timeline have not yet been disclosed.

These exits follow a series of high profile departures at Peak XV. In September 2025, managing director Harshjit Sethi resigned after nearly a decade with the firm. Earlier departures include managing partners Shailesh Lakhani and Abheek Anand, investor Shraeyansh Thakur,  Piyush Gupta, and Anandamoy Roychowdhary over the past 15 months.