Sequoia Capital India’s Peak XV Companions has determined to scale back its funding in India by 16 per cent, a 12 months after its cut up from Silicon Valley-based Sequoia Capital. This 12 months’s peak comes after XV exited $1 billion. However, it stated its conviction to speculate in India and Southeast Asia stays robust.
“We are defined by the choices we make. We’ve made voluntary modifications that we imagine will serve us effectively over a multi-decade horizon,” the enterprise capital agency stated in an announcement.
“In the context of a richly priced public sector in India, we are investing in our development fund in a measured method, however we proceed to intention on seed and enterprise stage alternatives. In consequence, we have taken the choice to resize our 2022 classic funds by 16 p.c,” it stated, including that they are on monitor to have their second-best 12 months for distributions and exits in their historical past due to a powerful portfolio. conduct
Peak XV has determined to make a few of their curiosity associated to their development and revenue distribution in multi-stage funds, whereas leaving their seed and enterprise fund economics unchanged.
The enterprise capital agency stated its choice to scale back its $2.85 billion fund could appear counter to sector sentiment however will serve its founders and LPs higher in the future.
Peak XV (Peak Fifteen) – a reference to Mount Everest earlier than it was named – has been lively in the space for 17 years. Since then it has expanded to handle $9 billion in 13 funds and has invested in over 400 firms, of which ~40 have achieved revenues of greater than $100 million, it stated. Peak XV has 5 places of work in Bangalore, Mumbai, Delhi, Singapore and Dubai
Invested in companies like Bankbazaar, Bharatpay, Bira (B9 Beverages), Blinkit, Cardekho, Cars24, Cleartax, Cred, Dailyhunt, Go Colours, Goquik, Grove, Heads Up for Tails, Healthkart, Minimalist, Mocoba Quick, Mocoba Quick, etc. . Rooms, Park+, Pine Labs, Plum, Practo, Quick Heal, Razorpay, Smallcase, Truecaller, Anacademy, Wakefit, Wildcraft, Zoomcar, 1MG and more.