Peak XV is creating an “evergreen” fund bankrolled by its funding companions and prolonged group, a supply accustomed to the matter informed TechCrunch, because the enterprise agency seeks to turn out to be a big LP in its personal 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 normal assembly in New Delhi this week. The “perpetual” fund goals to convey “a culture of high accountability and alignment with LPs” and differentiated functionality to develop as an establishment, in line with an LP supply accustomed to the matter.
Peak XV, the enterprise agency previously generally known as India and Southeast Asia arm of Sequoia, didn’t disclose the scale of the brand new fund. Greater than 100 of its restricted companions are in New Delhi this week to have interaction with the enterprise agency.
The brand new fund, known as Peak XV Anchor Fund, shall be funded solely by the enterprise agency’s companions and different senior leaders, the supply stated, requesting anonymity because the matter is non-public. 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. TechCrunch couldn’t determine these newer areas.
Peak XV didn’t instantly reply to a request for remark.
