Peak
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. Through the “permanent” fund, Peak XV aims to bring “a culture of high accountability and alignment with limited partners” and a “differentiated” ability to grow as an organization, according to an LP source familiar with the matter.
Peak XV, the investment firm formerly known as Sequoia's India and Southeast Asia subsidiary, did not disclose the size of the new fund. More than a hundred of its limited partners are in New Delhi this week to deal with the venture firm.
The new fund, called the Peak XV Anchor Fund, will be funded through an internal balance sheet, said the source, who requested anonymity because the matter is private. The fund will enable Peak XV to “create a global learning and collaboration network,” the investment firm said, according to an LP source.
The fund will enable Peak XV Partners to have a broader footprint in the game through its own fund and explore investing in newer areas, the source said. TechCrunch was unable to identify those newer regions. Through the Peak XV Anchor Fund, the investment firm plans to partner with “other managers across regions, strategies and sectors”.
Peak XV did not immediately respond to a request for comment.
The Peak The $2.85 billion fund, which had $2.5 billion of dry powder for the region during its spinoff from Sequoia, was also early in launching an early-stage focused program, called Surge, which has made Y Combinator much less exciting for startups from India. and Southeast Asia. .
