News Summary

Peak XV Partners, formerly known as Sequoia Capital India, is experiencing significant changes as two senior partners, Shailesh Lakhani and Abheek Anand, announce their departure. This marks a continuation of senior-level exits following the firm’s strategic shift after its split from Sequoia Capital in 2023, driven by the need to avoid U.S.-China tensions. The firm has reduced its fund size by over $400 million to $2.40 billion, reflecting caution in India’s venture market, which has seen intense growth. Lakhani and Anand, who have been with the firm for 17 and 12 years respectively, will continue to hold some board positions. They have been instrumental in several successful investments, including Minimalist, Ixigo, and Truecaller, and have led investments in companies preparing for IPOs. These changes come as the Indian venture industry faces a slowdown, with investors prioritizing profitability.