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

Peak XV announced it has raised $1.3 billion across new funds dedicated to India and Asia, bringing its total assets under management to over $10 billion. Managing Director Shailendra Singh stated that the majority of this capital will be deployed in India over the next two to three years, focusing on artificial intelligence, fintech, and consumer startups, while also pursuing cross-border bets. This fundraising occurs as global VC rivalry in India intensifies, highlighted by General Catalyst's increased commitment. Singh emphasized that Peak XV prioritizes generating strong returns over maximizing assets under management, noting the firm is selective in the U.S. market where it considers itself an "underdog." Since splitting from Sequoia Capital in 2023, Peak XV has made over 80 investments in AI startups and has returned more than $7 billion to investors since its inception.

(Source：TechCrunch)