Sequoia Capital, the venture capital firm, is undergoing a division into three separate entities, with its South-east Asia and India business being rebranded as Peak XV Partners.
In the realm of venture capital, Sequoia Capital's operations in China will adopt the English name ‘HongShan,’ while its business in the United States and Europe will continue to operate under the Sequoia name. Peak XV, in a press release, affirms that all three divisions have been developed as distinct entities from the beginning, with each having its own autonomous decision-making process.
As the firm expanded and its businesses evolved with different strategies, brand confusion and conflicts within the portfolio have arisen over the years. To better serve founders and limited partners (LP), the leaders of each business have made a joint decision to achieve full independence.
“Our firm will continue to be managed by the present leadership team, and will continue to invest from the most recently raised set of funds focused on India and South-east Asia,” said Shailendra Singh, managing director of Peak XV.
With a portfolio of 13 funds, Peak XV Partners will oversee a total of more than US$9.2 billion in assets. The investment team, consisting of 11 managing directors, is led by individuals who have an average tenure of 12 years with the firm.
The newly established venture capital firm will maintain its investments across various stages including seed, venture, and growth, focusing on sectors such as cybersecurity, software-as-a-service, fintech, and consumer industries. Additionally, the firm will enhance and reinforce its Surge and Spark programs under the new structure.