Peak XV is creating an “evergreen” fund bankrolled by its funding companions and prolonged group, a supply aware of the matter advised Gadget Guru Weblog, because the enterprise agency seeks to turn into a major LP within the agency’s future automobiles and discover funding in new asset courses.
Probably the most influential investor in India and Southeast Asia revealed the information to its restricted companions at its annual common assembly in New Delhi this week. The “perpetual” fund goals to deliver “a tradition of excessive accountability and alignment with LPs” and “differentiated” functionality to develop as an establishment, in accordance with an LP supply aware of the matter.
Peak XV, the enterprise agency previously referred to as India and Southeast Asia arm of Sequoia, didn’t disclose the dimensions of the brand new fund. Greater than 100 of its restricted companions are in New Delhi this week to interact with the enterprise agency.
The brand new fund, known as Peak XV Anchor Fund, will likely be funded completely by the enterprise agency’s companions and different senior leaders, the supply stated, requesting anonymity because the matter is personal.
The fund will allow Peak XV Companions to have broader pores and skin within the sport with its personal fund and likewise discover funding in newer areas, the supply stated. Gadget Guru Weblog couldn’t establish these newer areas.
Peak XV didn’t instantly reply to a request for remark.
Peak XV Anchor Fund is the investor group’s newest in a collection of main bets in India and Southeast Asia, the place it manages over $9 billion in AUM. The fund, which throughout its separation with Sequoia had $2.5 billion to deploy within the area, additionally launched an early-stage centered program, known as Surge, that has posed a critical rivalry to Y Combinator.