{"id":3094931,"date":"2026-02-20T07:10:40","date_gmt":"2026-02-20T15:10:40","guid":{"rendered":"https:\/\/techcrunch.com\/?p=3094931"},"modified":"2026-02-20T09:43:18","modified_gmt":"2026-02-20T17:43:18","slug":"peak-xv-raises-1-3b-doubles-down-on-ai-as-global-vc-rivalry-in-india-heats-up","status":"publish","type":"post","link":"https:\/\/techcrunch.com\/2026\/02\/20\/peak-xv-raises-1-3b-doubles-down-on-ai-as-global-vc-rivalry-in-india-heats-up\/","title":{"rendered":"Peak XV raises $1.3B, doubles down on AI as global VC rivalry in India heats up"},"content":{"rendered":"\n

Peak XV<\/a> announced on Friday that it has raised $1.3 billion across new India and Asia-focused funds. The firm, which now manages more than $10 billion in assets, is sharpening its focus on artificial intelligence and cross-border bets amid intensifying competition for deals in the region.<\/p>\n\n

The capital will be deployed across its India seed and venture funds as well as its APAC vehicle. A majority is earmarked for India, with the firm expecting to invest the pool over the next two to three years, managing director Shailendra Singh said in an interview on Friday.<\/p>\n\n

Peak XV split from Sequoia Capital in 2023<\/a>, in an effort to separate the India-focused portions of Sequoia’s portfolio. The firm now counts more than 450 portfolio companies across fintech, software, and consumer internet, spanning seed to growth stages.<\/p>\n\n

The firm’s new fundraise comes as New Delhi hosts the AI Impact Summit<\/a>, drawing major technology players including OpenAI, Anthropic, and Google. At the event, General Catalyst outlined plans to invest $5 billion<\/a> in the country over the next five years, sharply increasing its earlier commitment to the market.<\/p>\n\n

Singh said Peak XV is not trying to match rivals dollar-for-dollar, emphasizing that the firm’s priority is generating strong returns rather than maximizing assets under management. The firm will continue to size its funds based on where it sees the best opportunity to deliver “high-performing funds,” he said.<\/p>\n\n

He added that Peak XV is still building its presence in the U.S. and is selective about where it competes. “In the U.S. market, we are an underdog \u2014 and that’s great,” Singh said, adding that the firm is focusing on areas where its experience in software, developer tools, and fintech gives it an edge.<\/p>\n\n

The latest fundraise follows a period of leadership changes at Peak XV, including the recent departures<\/a> of senior partner Ashish Agrawal and investors Ishaan Mittal and Tejeshwi Sharma. Singh told TechCrunch the firm retains significant experience on its leadership team, noting that five of its seven managing partners have been with Peak XV for more than a decade. The broader Peak XV team includes more than 30 full-time investors, with about a dozen leading investments across its markets.<\/p>\n

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Peak XV has returned more than $7 billion in cash to investors since inception, Singh said, adding that 35 of its portfolio companies have gone public. He declined to specify distributions since the firm’s split from Sequoia Capital. In September 2024, TechCrunch reported that the firm had returned about $1.2 billion<\/a> in the year.<\/p>\n\n

Ahead of the current raise, Peak XV’s prior fund was sized at $2.85 billion<\/a> in late 2021, before the firm split from Sequoia Capital. That figure was later reduced to about $2.4 billion as part of what Singh described as a disciplined approach to capital. The earlier pool included Peak XV’s India growth strategy, and Singh said the firm does not plan to raise a new growth fund until more of that dry powder is deployed.<\/p>\n\n

Singh expects to deploy the new capital primarily into AI, fintech, and consumer startups, while also seeing emerging opportunities in deep tech. The firm has made more than 80 investments in AI startups to date. He added that the U.S.-India ties are becoming increasingly important as more founders in the region build for global markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

Peak XV says most of its new capital will target India as the firm prioritizes AI, fintech and cross-border bets while navigating recent partner 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