Peak XV raises $1.3B across India and Asia funds, sharpens AI focus

Peak XV Partners, the former Sequoia Capital India arm, raised $1.3B across three new funds focused on AI and consumer startups in India and Southeast Asia. The firm now manages over $10B in assets and expects to deploy the capital over two-to-three years, with the majority earmarked for India. The raise comes as global VC competition in India intensifies, with General Catalyst committing $5B and major AI companies announcing deals at the India AI Summit. The firm prioritizes returns over matching rivals dollar-for-dollar.

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