New Delhi, Feb. 20 -- Multi-stage venture capital firm Peak XV Partners said Friday it has secured $1.3 billion in new capital commitments across three funds to invest in India and Asia-Pacific.
The VC firm will use the India seed fund, the India venture fund, and the Asia-Pacific fund to back companies from the earliest stages through IPO and long-term scale, it said in a statement. The firm added that it also has "significant uninvested capital" in its existing growth-stage fund.
Peak XV said it will continue to focus on its core sectors of AI, fintech and consumer, while also expanding investments in emerging areas such as deeptech.
"This is an extraordinary time for technology innovation across India and APAC. The scale of opportunity, depth of talent, and growing global ambition among founders makes this one of the most exciting periods we have seen," said Shailendra Singh, managing director at the firm.
The firm said the fundraising milestone reflects "continued conviction" from its global limited partners, which include leading endowments and foundations. It also said that, as with prior funds, its team was among the largest investors in its own funds.
Peak XV, formerly known as Sequoia Capital India and Southeast Asia, manages over $10 billion in capital across 16 funds and has invested in over 450 companies over the past two decades. More than 35 companies in its portfolio have floated IPOs, it said.
Published by HT Digital Content Services with permission from VC Circle.