Peak XV Partners Experiences Senior-Level Departures Amid Leadership Reshuffle

Three managing directors at Peak XV Partners—Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharmahave, have quit the firm, marking another round of senior-level departures at the venture capital firm amid an ongoing leadership reshuffle. “We have mutually decided to part ways with Ashish Agrawal. After thoughtful consideration and discussions, it became clear that parting ways was in the best interests of our Limited Partners and the long-term interests of the firm. Following Ashish’s departure, Ishaan Mittal and Tejeshwi Sharma have decided to join him,” Peak XV said in a statement. The departures add to a string of senior exits. Former MDs Shailesh Lakhani and Harshjit Sethi, who left last year, are also launching their own funds. Piyush Gupta, another former MD, launched Kenro Capital in 2024 to target late-stage secondary deals. Other departures included MDs, Shailesh Lakhani, and Abheek Anand, alongside Investor Shraeyansh Thakur, Surge Partner Anandamoy Roychowdhary, chief product officer Anuj Sahai, and vice-president Suraj Agarwalla. Sequoia The exits come at a time when the firm is in the midst of a broader transition, recalibrating the organisation and investment strategy following its split from Sequoia India & South-East Asia in 2023. It is reportedly looking to raise $1-1.5 billion across funds. Agrawal, who spent 13 years at the firm, led Peak XV’s investment in Groww, which got listed in November last year. The investment is set to return the $695 million Fund VI raised in 2018 nearly 3 times over. He also led around 20 other investments including Leap Finance , Pristyn Care, Progcap, Plum and Stanza Living. Mittal, who joined in 2011, led growth-stage fintech and consumer bets including Mamaearth, Razorpay and OneCard. Sharma focused on consumer internet and SaaS investments including Cred, Scapia and Whatfix. The firm which manages $7-8 billion in assets has elevated Abhishek Mohan to Managing Director and General Partner from Principal in the venture team. Mohan joined in 2018 and has led investments in Whole Truth and Mokobara. Saipriya Sarangan has been promoted to Chief Operating Officer from Chief People Officer.