Peak XV says internal disagreement led to partner exits as it doubles down on AI

Peak XV Partners, a prominent venture capital firm operating in India and Southeast Asia, is experiencing another wave of senior exits as it intensifies its focus on artificial intelligence investments. This comes on the heels of several leadership departures over the past year, as the firm aims to broaden its reach in the U.S. while maintaining India as its primary market. The recent exits were attributed to internal disagreements involving senior partner Ashish Agrawal. Managing Director Shailendra Singh confirmed that this led to a mutual decision for Agrawal, along with partners Ishaan Mittal and Tejeshwi Sharma, to leave the firm. While Singh refrained from divulging specifics about the internal conflict, he emphasized the importance of moving forward with professionalism. Singh noted that such changes are not unusual within large, multi-stage venture firms. He reassured stakeholders that the transition of board seats held by the departing partners would occur swiftly, as Peak XV had overlapping representation in various portfolio companies. He expressed confidence in the firm's continuity, highlighting the involvement of multiple general partners and operating partners across those boards. The departures signify the exit of experienced investors, with Agrawal having been with Peak XV for over 13 years, Mittal for more than nine years, and Sharma for over seven years. Agrawal announced on LinkedIn his decision to embark on an entrepreneurial journey alongside Mittal and Sharma, aiming to establish a new venture capital firm. He conveyed his gratitude to Peak XV for a rewarding partnership during his tenure. Throughout his time at Peak XV, Agrawal played a critical role in investments spanning fintech, consumer sectors, and software, including notable IPOs like Groww, which marked one of the firm's significant exits in 2025. Meanwhile, Peak XV has promoted Abhishek Mohan to general partner and elevated Saipriya Sarangan to chief operating officer, enhancing its internal leadership capabilities. This leadership reshuffle occurs in the context of a successful year for Peak XV’s portfolio, with five companies going public in late 2025 and generating substantial unrealized gains. The firm has faced broader turnover within its senior ranks, including the exits of investment leaders Harshjit Sethi and Shailesh Lakhani last year. Despite these changes, Singh refuted claims circulating in the market regarding the departure of key partners responsible for the firm’s major successes. He asserted that the firm’s exit track record is not reliant on any single individual. Currently, Peak XV manages over $10 billion across 16 funds, having made approximately 80 investments related to AI, as it prepares to establish a U.S. office in the next 90 days. Singh views AI as a transformative force in venture investing, emphasizing the need for investors with technical expertise in this evolving landscape.