VC firm Peak XV has announced three maiden funds — India Seed, India Venture and APAC Funds — its first independent funds after separating from Sequoia Capital in 2023. In a statement on X and LinkedIn, the firm claimed that it has closed commitments for the three funds to the tune of $1.3 Bn. “Along with significant uninvested capital in our existing Growth fund, we are excited about our ability to back outlier founders building category defining companies, across multiple stages, as we have done for two decades,” the statement said Without disclosing the names of its limited partners, Peak XV said that many of the investors backing the maiden funds are leading non-profit endowments and foundations. The firm also didn’t disclose the cheque size or the number of investments it plans with the new funds. But Peak XV’s biggest focus areas with the new fund are fintech and AI. The post said AI as a defining theme of the current investment cycle. “AI is transforming the world at an unprecedented pace, and while the initial breakthroughs were concentrated in Silicon Valley, AI opportunities are now abundant in India and APAC. The size, scale and sophistication of technology startups is… Read MoreInc42 Media
