Peak XV Partners, a prominent venture capital firm operating in India and Southeast Asia, is undergoing a new wave of senior leadership departures. This follows prior exits over the past year as the firm intensifies its investment strategy in artificial intelligence (AI) while maintaining India as its primary market and planning for expansion into the U.S.
The recent departures were prompted by an internal disagreement involving senior partner Ashish Agrawal (depicted above, left), resulting in a mutual decision to part ways, according to Managing Director Shailendra Singh in an interview with TechCrunch. Additionally, partners Ishaan Mittal (depicted above, right) and Tejeshwi Sharma (depicted above, center) opted to leave in conjunction with Agrawal.
Singh emphasized that the firm preferred to keep the specifics of the disagreement private, expressing a desire to maintain professionalism. “We aim to handle this matter with dignity and are eager to move forward,” he stated. He remarked that such shifts in leadership are common in large, multi-stage venture firms and that Peak XV is keen to swiftly transition after years of collaboration.
Singh noted that all board positions held by the departing partners would be transitioned “imminently,” reassuring that the firm already had overlapping representation across numerous portfolio companies. He emphasized that continuity was not a concern, as various general partners and operating partners were actively involved in those boards.
The exits represent a significant change in the firm, affecting seasoned investors: Agrawal had been with Peak XV for more than 13 years, Mittal for over nine years, and Sharma for more than seven years, according to their LinkedIn profiles.
In a LinkedIn post, Agrawal shared that he has decided to “take the entrepreneurial plunge” and is collaborating with Mittal and Sharma to establish a new venture capital firm. He described this transition as an opportunity to create a new institution alongside trusted partners and expressed gratitude to Peak XV’s leadership for a “truly wonderful partnership.”
During his tenure at Peak XV, Agrawal spearheaded investments in fintech, consumer goods, and software, including Groww, one of the firm’s most notable IPO exits in 2025. He also supported numerous early and growth-stage companies alongside Mittal and Sharma, contributing to the firm’s portfolio expansion over the past decade.
As of now, Agrawal, Mittal, and Sharma have not responded to requests for comments.
In an effort to fortify its senior leadership, Peak XV has internally promoted Abhishek Mohan to general partner, thereby enhancing its investment leadership, while Saipriya Sarangan has been elevated to chief operating officer, overseeing the firm’s operational functions.
These leadership transitions occur during a remarkable period for Peak XV, which has recently witnessed five of its portfolio companies—Groww, Pine Labs, Meesho, Wakefit, and Capillary Technologies—going public between November and December 2025. This has resulted in approximately ₹300 billion (around $3.33 billion) in unrealized, mark-to-market gains, alongside around ₹28 billion (about $310.61 million) in realized gains from share sales during their IPOs.
Beyond these recent departures, Peak XV has experienced a broader turnover in its senior ranks over the past year. Last year, long-time investment leaders Harshjit Sethi and Shailesh Lakhani exited the India team, while Abheek Anand and Pieter Kemps left the firm’s Southeast Asia operations. The firm has also seen changes in its marketing, policy, and operations teams in recent months.
Singh addressed market speculation suggesting that many partners responsible for Peak XV’s major exits had departed, labeling that perspective as “not statistically true.” He highlighted that several significant outcomes have been driven by long-tenured partners who continue to remain with the firm, stressing that its exit success is not dependent on any individual.
Currently, Peak XV comprises seven general partners, along with various partners and principals, as stated by Singh.
The venture capital firm, which separated from Sequoia Capital in 2023 and now manages over $10 billion across 16 funds, has made approximately 80 investments in AI, as per Singh, indicating its commitment to enhancing its focus on AI funding. The firm is also preparing to establish a U.S. office within the next 90 days, further expanding its global presence while continuing to prioritize India as its largest and most significant market.
Singh articulated the firm’s belief that AI will transform venture investing more fundamentally than previous technological advancements, asserting that successful AI investments require investors with deep technical insights rather than just “generalist” experiences. He noted that Peak XV is actively seeking to recruit more AI-native talent, including researchers and engineers specialized in machine learning and large-scale model development.
To date, the firm has invested in more than 400 companies and has overseen over 35 initial public offerings and numerous mergers and acquisitions.
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