Peak XV announced that it has raised $1.3 billion across new India and Asia-focused funds, as competition for venture deals in the region heats up.
The firm now manages more than $10 billion in assets and says the fresh capital will be deployed mainly through its India seed and venture funds, as well as its broader APAC vehicle, according to industry reports.
Peak XV expects to invest in the new pool over the next two to three years, according to managing director Shailendra Singh. The raise lands at a time when New Delhi is hosting the AI Impact Summit, drawing major tech players such as OpenAI, Anthropic, and Google.
It also follows recent moves by global investors to scale up their exposure to India. General Catalyst, for example, outlined plans at the event to invest $5 billion in the country over the next five years, stepping up from its earlier commitment.
According to Peak XV, it now has 450+ portfolio companies across fintech, software, and consumer internet, spanning from seed to growth stages.
$1.3B earmarked for India
On fund deployment, Peak XV says most of the $1.3 billion is earmarked for India, with the rest supporting the firm’s wider Asia-Pacific strategy.
The firm expects the bulk of new deployments to go into AI, fintech, and consumer startups, while also tracking emerging deep-tech opportunities. Peak XV has already made 80+ investments in AI startups, says the report.
“In the U.S. market, we are an underdog, and that’s great,” Singh said.
Peak XV has secured new funding amidst recent leadership changes, including the departure of senior partner Ashish Agrawal and investors Ishaan Mittal and Tejeshwi Sharma. The overall team has over 30 full-time investors, with about a dozen leading various investments.
On performance and liquidity, Singh said Peak XV has returned more than $7 billion in cash to investors since inception, and that 35 portfolio companies have gone public.
