Three senior partners of Peak XV, a leading venture capital (VC) firm in India, have resigned to launch their own investment firm. The departing partners are Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma. Agrawal and Mittal had been with Peak XV and its predecessor Sequoia Capital India for over a decade, while Sharma brought expertise in SaaS and fintech investments.
Peak XV confirmed the departures and said the decision was made after internal discussions. The firm cited differences over economics and executive payouts as the main reason for the exits. Peak XV’s leadership said these changes are normal and are in the long-term interest of the firm and its investors.
The move comes amid a period of senior-level changes at Peak XV since it split from Sequoia Capital India in 2023. The firm has been restructuring and focusing on new areas, including artificial intelligence. To fill the leadership gap, Peak XV promoted Abhishek Mohan to managing director and Saipriya Sarangan to chief operating officer.
The departing partners said they want to pursue their entrepreneurial ambitions and build a new investment firm with trusted colleagues. Industry experts see this as part of a growing trend where experienced VC investors in India are starting their own specialised funds.
Despite the exits, Peak XV remains committed to its investment plans and sees the leadership changes as an opportunity to strengthen its team and continue backing innovative startups.
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