Sans ‘Sequoia’, Peak XV grapples with high-profile exits

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.