Peak XV raises $1.3B, doubles down on AI as global VC rivalry in India heats up | TechCrunch

TechCrunch

by Jagmeet Singh

February 20, 2026

AI-Generated Deep Dive Summary

Peak XV has raised $1.3 billion across new India and Asia-focused funds, signaling a heightened focus on artificial intelligence, fintech, and cross-border investments as competition in India's venture capital landscape intensifies. The firm, which now manages over $10 billion in assets, aims to deploy the majority of its new capital in India over the next two to three years, with a particular emphasis on AI-driven startups and financial technology innovations. This move comes amid growing rivalry among global VCs vying for deals in one of the world's fastest-growing tech markets. The firm, which split from Sequoia Capital in 2023 to focus solely on India-related investments, has invested in over 450 companies across various stages. Managing director Shailendra Singh emphasized that Peak XV is prioritizing returns over asset growth, avoiding direct competition with rivals like General Catalyst, which recently announced a $5 billion investment commitment in India. Instead, the firm is focusing on areas where its expertise in software, developer tools, and fintech provides an edge, particularly in the U.S. market. Despite recent leadership changes, including the departure of senior partner Ashish Agrawal and other key investors, Peak XV remains confident in its experienced team. Five out of seven managing partners have been with the firm for over a decade, ensuring continuity in strategy and execution. The company has returned $7 billion to investors since inception, with 35 portfolio companies going public, underscoring its track record in delivering high-performing funds. The timing of Peak XV's new fundraise coincides with India's growing importance as a global tech hub, particularly in AI and deep tech. Singh

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Originally published on TechCrunch on 2/20/2026