Sequoia India Rebrands To Peak XV Partners; To Operate As Independent VC Firm
The firm will now operate as a fully independent firm and continue investing from its current funds of about Rs 20,000 crore.
Sequoia India and Southeast Asia has decided to rebrand to Peak XV Partners globally.
"The rebranding has come after Sequoia Capital (U.S./Europe), Sequoia China and Sequoia India and Southeast Asia have decided to become independent firms with distinct brands," it said in a statement on Tuesday.
"Peak XV was the original name given to Mount Everest and symbolises the relentless pursuit of audacious goals by founders," it said, explaining the rationale behind the new name.
The firm will now operate as a fully independent firm and continue investing from its current funds, which include $2.5 billion or about Rs 20,000 crore of uninvested capital.
“Our firm will continue to be managed by the present leadership team and will continue to invest from the most recently raised set of funds focused on India and Southeast Asia," said Shailendra Singh, managing director, Peak XV Partners.
The venture capital fund said that since inception, Sequoia Capital U.S./Europe, China and India/Southeast Asia have been built as "separate businesses with independent investment decision-making".
"Over the years, the strategies for each business have diverged and the scale and market leadership across different geographies has started to result in brand confusion and portfolio conflict. This has led the leaders of each business to collectively decide to move to fully independent partnerships with distinct brands, in order to serve founders and limited partners in the best manner," he said.
The fund, which manages over $9.2 billion across 13 funds, will continue to invest across stages (seed, venture, growth) and sectors like SaaS, AI, developer tools, cybersecurity, cloud infrastructure, climate tech, fintech, healthtech and consumer.
The firm will further strengthen its programmes like Surge and Spark, that are sought after by entrepreneurs starting off.