Peak XV Partner’s Two Senior Executives To Exit The VC Firm

Shailesh Lakhani On How VCs Give Exits To Angels

SUMMARY

Shailesh Lakhani and Abheek Anand, the two managing directors at Peak XV Partners, are set to leave the VC firm

Lakhani and Anand have been with the VC firm for more than 17 years and 12 years, respectively

Notably, this will be the third major exit at Peak XV Partners in the past 12 months

Shailesh Lakhani and Abheek Anand, the two managing directors at Peak XV Partners, are set to leave the VC firm, sources close to the matter told Inc42.

Notably, Lakhani and Anand have been with the VC firm for more than 17 years and 12 years, respectively.

Taking to X, Lakhani said, “As my time at Peak XV/Sequoia India reaches 17.5 years, I’ve decided it’s the right moment to step back from the firm. It has been an incredible journey—one that began in August 2007, when India’s startup ecosystem was in its infancy, to today, where it stands as one of the most vibrant in the world. I wouldn’t have traded this courtside seat for anything.”

He said that he will now spend time with family while professionally, he has reached the goals that he once set for himself, leaving him “with both deep gratitude and a pull toward new challenges,”

Notably, this will be the third major exit at Peak XV Partners in the past 12 months.

In November last year, Anandamoy Roychowdhary left the VC firm.

While in April 2024, the investment major’s managing director Piyush Gupta left the company after a seven-year tenure. Recently, Gupta floated his new secondaries-focussed fund, Kenro Capital, to cash in on the surge in secondary transactions.

Also. last year, Peak XV trimmed the size of its $2.85 Bn fund by 16%, or $465 Mn, with a likely focus on deploying dry powder more judiciously. It returned uninvested capital to its limited partners (LPs).

The firm has also refined its payout structure for fund managers and general partners, adopting a 2/20 compensation model for growth funds, aligning with industry norms.

Notably, Sequoia Capital entered the Indian market in 2006 by acquiring a team at WestBridge Capital. Since then, it has significantly expanded its investments in the country, backing unicorns like CRED, Meesho, Groww, Mamaearth, and Unacademy.

It recently got 10X returns on its investment in Minimalist as well.

In 2023, Sequoia Capital underwent a major restructuring, splitting into three independent entities. Its India and South Asia operations were rebranded as Peak XV Partners.

Despite this split, the US-based Sequoia Capital is eyeing a return to India and is reportedly in advanced discussions to invest in Bengaluru-based fintech startup Vance.