Former Peak XV’s Ashish Agrawal exits Groww board, to launch VC firm

Ashish Agrawal, a foundational supporter of Groww and instrumental in its initial funding phases, has announced his resignation from the board of Billionbrains Garage Ventures, the parent company of the fintech platform. This change is effective from April 20, 2026, as detailed in a recent exchange filing following a board meeting. Agrawal, who held the position of Nominee Director, has also stepped down from all associated board committees, including the Corporate Social Responsibility Committee and the Stakeholder Relationship Committee. In his farewell letter to the board, he reflected on his seven-year journey with Groww, calling it a significant highlight in his career. “Witnessing the transformation of Groww from a nascent startup to a publicly listed company has been incredibly rewarding, and I am proud to have contributed to its success,” he expressed, reassuring that the company is in capable hands. Having been closely linked with Groww since its inception at Peak XV Partners (formerly Sequoia India & Southeast Asia), Agrawal played a key role in the firm's Series A investment in the company. Over the years, Peak XV amassed one of the largest stakes in Groww, owning approximately 17% at the time of the company's IPO. Following the public listing, the firm strategically sold a small fraction of its holdings, valued at around Rs 1,583 crore, to satisfy regulatory requirements while retaining the majority of its investment. In February, Agrawal concluded his tenure at Peak XV, paving the way for his next venture: establishing a new venture capital firm. This move marks a transition from investing in startups as part of a larger fund to creating his own investment platform. In related news, Billionbrains Garage Ventures Ltd reported a remarkable 122% year-on-year increase in its consolidated net profit for Q4 FY26, reaching Rs 686 crore, compared to Rs 309 crore in the same quarter last year. The company's total income surged by 80.73% year-on-year to Rs 1,536 crore, up from Rs 850 crore during Q4 FY25. The operating performance was similarly impressive, with EBITDA rising by 141.81% year-on-year from Rs 388 crore to Rs 939 crore, and the platform's EBITDA margin standing at 66.93% for the quarter.