Sequoia India declared a split from its parent funding firm & the re-named venture Peak XV Partners has told its financial backers that it will provide a Perpetual Fund that will ‘make a culture of high responsibility and arrangement with LPs (limited partners)’, as per individuals near the close to the events.

Relevant Sources said that this extremely permanent capital vehicle will have the Peak XV group’s own capital and not raise any money from LPs. The Fund vehicle could put resources into Peak XV’s own future capital funds & assets, other venture assets or even convey capital in different resources later on. It won’t straightforwardly hold the share portions of any Peak XV portfolio organizations.

Sharing the statement on this, the source says, “It does not change anything for LPs who have invested in Peak XV’s venture funds… Peak XV shared this development with over 100 global investors who gathered for a two-day meet in Delhi, the largest gathering of Limited Partners in the region”.

Also, it adds, "The venture intends to leverage its internal balance sheet to invest in its main funds and collaborate with fund managers across regions”.

At present, Peak XV is an investor in prominent companies in India such as Blinkit, BYJUs, CarDekho, CRED, Fresh works, Info Edge, Mamaearth, Ola cabs, OYO rooms, Zomato, Amazon rival Meesho and so on.

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