Peak XV Partners has witnessed yet another major exit, with Managing Director Harshjit Sethi leaving after nearly 10 years at the venture capital firm. His departure follows a spate of high-level changes at the firm in recent months.
In a LinkedIn post, Sethi wrote: “After a decade at Sequoia India and Peak XV, I’ve decided to leave the firm and explore a new innings. It’s been a journey rich in learning and relationships.” He said India’s startup scene grew much faster than he expected when he moved back from the Bay Area in 2015 and added that he is still passionate about working with founders at the early stages.
Sethi was also significant in the AI investments of Peak XV, spearheading deals in firms like Sarvam.ai, a startup that develops Indic language models and AI software for enterprises. He was also involved in investments in BharatPe, Apna, and Darwinbox.
This exodus arrives at a time when Peak XV, previously Sequoia India & Southeast Asia, is trying to raise its initial fund following its split from Sequoia. The company is said to be aiming to raise $1.2–$1.4 billion for the fund. Though multiple high-ranking exits within a brief period raised questions about the firm’s strategy,.
Other recent departures include Chief Product Officer Anuj Sahai, who departed last month, Surge Partner Pieter Kemps in August, and veteran managing partners Shailesh Lakhani and Abheek Anand in February. In March, investor Shraeyansh Thakur also left after almost 10 years.
These back-to-back departures could portend a significant shift in the direction of the company as it looks to the future. Peak XV hasn’t yet said who will replace Sethi, but retaining trust with founders and investors will be vital in the months to come.
