Peak XV Partners, a prominent venture capital firm operating in India and Southeast Asia, is experiencing another wave of senior-level departures. This follows a series of leadership exits over the last year as the firm advances its strategy to intensify its focus on artificial intelligence investments and broaden its presence in the United States, all while maintaining India as its core market.

The departing partners—Ishaan Mittal and Tejeshwi Sharma—elected to leave alongside their colleague. A representative from Peak XV declined to detail the nature of the disagreement, emphasizing a forward-looking perspective. “Out of respect for privacy and to handle the matter professionally,” he stated, adding that such transitions are typical within large, multi-stage venture firms and that the focus is on moving forward after years of collaboration.

All board positions held by the exiting partners will be transferred “imminently,” according to the firm, which noted it already has overlapping representation across numerous portfolio companies. Continuity is not a concern, as multiple general partners and operating partners are actively involved with these boards.

These exits represent the departure of seasoned investors. Based on their LinkedIn profiles, one partner had been with Peak XV for over 13 years, while Ishaan Mittal spent more than nine years and Tejeshwi Sharma more than seven years at the firm. In a LinkedIn post, the senior partner announced his decision to “take the entrepreneurial plunge,” revealing he is partnering with Mittal and Sharma to launch a new venture capital firm. He described this as a chance to build a new institution with long-time collaborators and expressed gratitude to Peak XV’s leadership for a “truly wonderful partnership.”

During his tenure, this partner led investments in fintech, consumer, and software sectors, including Groww, which became one of the firm’s notable public listings in 2025. He, along with Mittal and Sharma, also backed numerous early- and growth-stage companies, contributing significantly to the expansion of Peak XV’s portfolio over the past decade. The departing individuals did not respond to requests for comment.

Concurrently, Peak XV is bolstering its internal leadership. The firm recently promoted Abhishek Mohan to general partner, enhancing its investment leadership, and elevated Saipriya Sarangan to chief operating officer, who will now oversee firm-wide operations.

These leadership shifts occur during a remarkable period for Peak XV’s portfolio exits. Five of its companies—Groww, Pine Labs, Meesho, Wakefit, and Capillary Technologies—went public in November and December 2025. These listings generated approximately ₹300 billion (around $3.33 billion) in unrealized, mark-to-market gains for the firm, plus about ₹28 billion (roughly $310.61 million) in realized gains from share sales during the initial public offerings.

Beyond the recent departures, Peak XV has witnessed broader turnover in its senior ranks over the past twelve months. Last year, long-time investment leaders Harshjit Sethi and Shailesh Lakhani left the India team, while Abheek Anand and Pieter Kemps departed from the Southeast Asia operations. The firm has also seen changes in leadership across its marketing, policy, and operations teams in recent months.

The firm’s representative dismissed market speculation suggesting that many partners responsible for Peak XV’s largest exits have left, calling that narrative “not statistically true.” He asserted that several of the firm’s most significant outcomes were led by long-tenured partners who remain and that the firm’s exit success does not depend on any single individual.

According to the representative, Peak XV currently has seven general partners, along with multiple partners and principals. The venture capital firm, which separated from Sequoia Capital in 2023 and now manages over $10 billion in capital across 16 funds, has made about 80 investments related to AI, underscoring its commitment to deepening its focus on AI funding.

The firm is also preparing to open a U.S. office within the next 90 days as part of its global expansion, while continuing to regard India as its largest and most critical market. Leadership believes AI will transform venture investing more fundamentally than previous technological shifts, contending that successful AI investing requires deep technical expertise rather than generalist experience. Consequently, Peak XV is seeking to recruit more AI-native talent, including researchers and engineers with backgrounds in machine learning and large-scale model development.

To date, the firm has invested in more than 400 companies, with its portfolio seeing over 35 initial public offerings and several mergers and acquisitions.