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Key Takeaways
Peak XV Partners’ transition from Sequoia Capital India has been far from smooth, leading to uncertainties within the organisation
While some prominent departures have made headlines, the VC has seen many other senior and mid-level folks moving on over the past 20 months
Several problems with high-profile portfolio companies such as Byju’s, BharatPe among others, have further exacerbated Peak XV’s issues
How India’s largest venture capital firm evolves from here will be watched with interest by the startup ecosystem
On the afternoon of June 6, 2023, Sequoia Capital, one of the world’s most influential venture capital firms, made a decision that surprised many: it would sever ties with its India and China teams.
What made this move surprising wasn’t just the decision to part ways with two of its largest markets, but the complete lack of warning. Founders and venture capital investors, including Sequoia’s own co-investors in India, were blindsided. Rumours had surfaced earlier but were dismissed as baseless speculation.
By evening, the news had spread across publications globally. On the surface, many industry leaders congratulated the newly formed ‘Peak XV Partners,’ now operating independently of Sequoia Capital.
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