Three MDs quit Peak XV Partners as senior-level exits continue
Three managing directors, Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma, have left Peak XV Partners, marking another high-level separation round at the venture capital firm amid ongoing leadership change.
The exits come at a time when the Summit XV is at its peak. Amid a broader transition, organizational and investment strategy is being recalibrated following Sequoia’s exit from India and Southeast Asia in 2023.
Along with the departures, the company also announced major leadership promotions. Abhishek Mohan has been promoted to general partner and will continue to lead Peak XV’s consumer technology investments; Saipriya Sarangan was promoted to chief operating officer (COO), responsible for company-wide operations.
In a post on Linkedin, Agrawal said he would work with Mittal and Sharma to launch a new venture capital firm. Sharma, on the other hand, wrote about
At Peak XV, Agrawal led early bets like Groww and has largely focused on fintech investments, with some exposure to consumer deals. Mittal, known for backing companies like Mamaearth and Razorpay, works on the growth side with a focus spanning consumer and fintech, while Sharma has backed startups like Cred and Whatfix, primarily covering SaaS and fintech investments.
The developments also add to the growing list of investment firms exiting Peak XV/Sequoia India, following WestBridge Capital and A91 Partners. Despite the loss of leadership, Peak XV reiterated its long-term commitment to its limited partners and founders and positioned the changes as part of a broader strategy to prepare the firm for its next phase of growth.
Following the departure of senior executives last year, the departures of three chief executives are imminent.
Managing director Harshjit Sethi resigned in September 2025, following the departure of other senior executives including Shailesh Lakhani, Abheek Anand, Shraeyansh Thakur and Anandamoy Roychowdhary. Those who left included chief product officer Anuj Sahai, vice president Suraj Agarwalla and general manager Piyush Gupta.
Lakhani is also in the process of establishing an early-stage fund with Sethi. In 2024, Gupta founded Kenro Capital, a fund focused on late-stage secondary deals.
GV Ravishankar, Mohit Bhatnagar, Sakshi Chopra, Shailendra J Singh, Rajan Anandan, Rohit Agarwal and Arnav Sahu have now remained with the company.
The firm has grown to manage over $9 billion of capital across 13 funds and has invested in more than 400 companies in India and Southeast Asia throughout its history. For the first time since the Sequoia split, it plans to create a new standalone fund worth about $1.2-1.4 billion. Economic Times It was reported in April last year.
The firm described the recent exits as mutual decisions consistent with its efforts to improve its investment capabilities, particularly in response to market changes. artificial intelligence (AI) and emerging technologies.
“Building an enduring institution requires decades of commitment, hard work, commitment to values, and the ability to embrace change,” Peak XV said in a blog post addressing leadership changes. Peak XV recently closed its 80th AI investment and said it plans to further deepen its AI domestic investor group and go-to-market capabilities.
