Rebranded as Peak XV Partners, Sequoia India & Southeast Asia To Function Independently In A Local-First Approach

Venture capital firm Sequoia India & Southeast Asia, which manages over $9.2 billion across 13 funds, will now be known as Peak XV Partners globally. The rebranding has come after Sequoia Capital (US/Europe), Sequoia China and Sequoia India & Southeast Asia have decided to become independent firms with distinct brands. 

Peak XV was the original name given to Mount Everest and symbolises the relentless pursuit of audacious goals by the founders.

Shailendra Singh, managing director of Peak XV Partners, said, "It's a new beginning for us as Peak XV Partners, but unlike most beginnings, this is an opportunity for us to build on top of the foundation laid over the last 17 years. Our firm will continue to be managed by the current leadership team and will continue to invest from the most recently raised set of funds focused on India and Southeast Asia." 

In an investor note, Sequoia stated that “it has become increasingly complex to run a decentralized global investment business.” As the global venture capital firm's business grew, it encountered growing market confusion "due to the shared Sequoia brand as well as portfolio conflicts across entities.” 

The three independent units will have their respective back-office functions, including IT, finance and accounting, the note added. This document was signed by Singh, Sequoia Capital (US/Europe) managing partner Roelof Botha and Sequoia China's founding and managing partner Neil Shen. 

Since its inception, Sequoia Capital (US/Europe), Sequoia China and Sequoia India/SEA 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 to serve founders and Limited Partners (LPs). 

"We are seeing companies emerge from every region with global ambitions. The flexibility that comes with the new structure will open up an unbounded global opportunity and help create more value for our founders and LPs," Singh said.

Over the last 17 years, Sequoia India & SEA has raised 13 funds, and invested in over 400 start-ups, with 50+ companies valued at $1 billion and above. The portfolio has seen 19 IPOs and multiple successful M&As resulting in $4.5 billion of realised exits. 11 managing directors lead the investment team at the firm, with an average tenure of over 12 years. 

According to Venture Intelligence's 'Series A Landscape Report', Sequoia Capital India (now Peak XV Partners) provided seed funding to 54 start-ups that subsequently went on to successfully raise Series A rounds during the analysed four-year period from 2019 to 2022. Blume Ventures followed closely, supporting 31 start-ups that secured Series A funding.

The venture capital firm also claimed the top spot as the most active Series A investor during the four-year period spanning 2019 to 2022, participating in 93 Series A rounds. It maintained its position as the most active Series A investor in the calendar year 2022, with 24 investments. Accel India and Elevation Capital rounded out the top three Series A investors in the 2019-2022 period and calendar year 2022.

Peak XV Partners will continue to invest across stages (seed, venture, growth) and sectors like SaaS, AI, developer tools, cyber security, cloud infrastructure, climate tech, fintech, health tech and consumer. It will also strengthen its founder-oriented programs like Surge and Spark.