Indian and Southeast Asian venture capital giant Peak XV Partners—formerly known as Sequoia Capital India—is going through sudden, seismic leadership changes. This transition follows a recent exodus of senior staff from within the organization. The exits of Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma have raised questions about the firm’s internal dynamics and future direction. The departures stem from a rift between the group and senior partner Ashish Agrawal. In the end, this resulted in a collective decision for the partners to separate.
The firm declared that all board seats owned by the exiting partners would shift “immediately.” This decision coincides with Peak XV Partners’ tremendous push to re-shape its leadership landscape. Over the past few months, the firm has undergone a transformation of its marketing, policy, and operations teams. These changes are part of a larger plan to ensure leadership matches the changing direction of the business.
From November to December 2025, Peak XV Partners achieved an extraordinary feat. Five of its portfolio companies IPOed, netting the fund close to ₹300 billion (roughly $3.33 billion) in unrealized gains. That’s an amazing track record, and it testifies to the firm’s talent in identifying, supporting, and growing successful entrepreneurial endeavors. It bolsters their credibility in the VC world. To date, Peak XV Partners has made over 400 investments. They are responsible for over 35 initial public offerings in addition to multiple mergers and acquisitions.
Despite the recent departures, Peak XV Partners is focused on continuing along this high-growth strategy. The firm has done so while recently doubling its global footprint by announcing plans to open a U.S. office within 90 days. India still remains Peak XV Partners’ biggest and most important market, influencing the firms’ both investment decisions and strategies.
Venture firm Peak XV Partners has elevated Abhishek Mohan to general partner. This move further bolsters its investment leadership team. In other leadership changes, Saipriya Sarangan has been raised to chief operating officer, taking over overall responsibility for operations across the firm. In addition, these appointments further underscore the new firm’s dedication to innovative and business-like management at a critical transition point in time.
In a recent LinkedIn post, Ashish Agrawal explained his decision to depart from that role. Throughout the entire process, he confidently claimed that he had chosen to “take the entrepreneurial plunge.” He shared his excitement about teaming up with Ishaan Mittal and Tejeshwi Sharma to found a new venture capital firm. For the departing partners, it’s a change of focus. They want to continue pushing the envelope to find new ways to make their mark in the rapidly evolving world of venture capital.
Peak XV Partners is taking a different approach to venture investing. They’re true believers—convinced that artificial intelligence (AI) will change the industry more profoundly than all previous technological revolutions combined. As the firm moves forward, it aims to leverage AI advancements to enhance its investment strategies and outcomes.