The investment firm claimed that it has closed commitments to the tune of $1.3 Bn for the three funds

Without disclosing the names of the LPs, Peak XV said that many of the investors backing the maiden funds are non-profit endowments and foundations

The fundraise comes days after three key partners, namely Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma, quit the VC giant to float their own investment firm

VC firm Peak XV has announced three maiden funds — India Seed, India Venture and APAC Funds — its first independent funds after separating from Sequoia Capital in 2023.

In a statement on X and LinkedIn, the firm claimed that it has closed commitments for the three funds to the tune of $1.3 Bn.

“Along with significant uninvested capital in our existing Growth fund, we are excited about our ability to back outlier founders building category defining companies, across multiple stages, as we have done for two decades,” the statement said

Without disclosing the names of its limited partners, Peak XV said that many of the investors backing the maiden funds are leading non-profit endowments and foundations.

The firm also didn’t disclose the cheque size or the number of investments it plans with the new funds. But Peak XV’s biggest focus areas with the new fund are fintech and AI.

The post said AI as a defining theme of the current investment cycle. “AI is transforming the world at an unprecedented pace, and while the initial breakthroughs were concentrated in Silicon Valley, AI opportunities are now abundant in India and APAC. The size, scale and sophistication of technology startups is deeply inspiring across both India and APAC. ”

About fintech, Peak XV said there’s a lot of compounding headroom in the consumer space.

The fund raise comes days after the departure of three key partners from the firm amid a larger exodus of key leaders.

Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma all quit earlier in February. Besides this, Peak XV has also seen the departures of key personnel and partners like Pieter Kemps, Shailesh Lakhani, Abheek Anand, Shraeyansh Thakur, and Anandamoy Roychowdhury in the past 18 months.

The recent exits of Agrawal, Mittal and Sharma in particular drew Peak XV into controversy surrounding the carry and the centralised structure of the fund, as Inc42 reported.

The three new funds are the first funds announced by Peak XV after the separation from Sequoia Capital in 2023. Back then, the firm inherited assets worth $9.2 Bn across 13 funds as well as $2.5 Bn of dry powder, which it claims will supplement the new funds.

Peak XV is coming into 2026 with a major confidence boost after earning big returns from early bets in 2025’s IPO boom. The company raked in more than ₹2,480 Cr in 2025 from the public issues of Groww, Pine Labs, Wakefit, and Urban Company over the past year.