Adding to a series of recent partner exits at one of India’s most influential venture capital firms Peak XV Partners (formerly Sequoia India), senior investors Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma have stepped down to launch a new venture capital fund of their own. The three investors, who have worked together for over a decade and were involved in several of Peak XV’s technology investments across consumer internet, fintech and enterprise software, are expected to formally begin work on the fund in the coming months. Their exit comes as Peak XV continues to reshuffle its leadership after rebranding from Sequoia Capital India & Southeast Asia, while also refining its investment approach with a stronger emphasis on AI-driven and next-generation technology companies.
“We have mutually decided to part ways with Ashish Agrawal. After thoughtful consideration and discussions, it became clear that parting ways was in the best interests of our Limited Partners and the long-term interests of the firm. Following Ashish’s departure, Ishaan Mittal and Tejeshwi Sharma have decided to join him,” Peak XV noted.
Notably, Agrawal, Mittal and Sharma were part of Peak XV’s senior investment bench and played active roles in sourcing deals, working closely with founders, and supporting portfolio companies through multiple stages of growth. Over the years, they were associated with investments across fast-growing sectors like consumer platforms, financial technology, SaaS and enterprise software. Their combined experience spans early-stage bets as well as later-stage scaling.
“The last few years have given me a ringside view of the best in entrepreneurship. Watching Groww, one of the first investments I led, become the second most valued new-age public company in India has been extraordinary to witness firsthand,” Ashish Agrawal said in a post on X.
While details of the new fund (including its name, target fund size, sector focus and geography) have not yet been disclosed, the trio has publicly indicated that launching an independent venture firm together has been a long-term ambition. The fund is expected to target Indian startups, with a likely focus on technology-led businesses.
Meanwhile, such major departures are not new for Peak XV, especially after its split from Sequoia Capital India & Southeast Asia in 2023. Since that separation, the firm has witnessed continuous senior exits across both investment and leadership roles. For example, in September 2025, managing director Harshjit Sethi stepped down after nearly a decade at the firm, during which he built and managed investments in companies like BharatPe, Darwinbox and several AI-focused startups. Around the same period, managing partners Shailesh Lakhani and Abheek Anand also exited, followed earlier by investor Shraeyansh Thakur. Other notable exits have included Anandamoy Roychowdhary and Piyush Gupta, along with departures across mid-level leadership roles like chief product officer Anuj Sahai and several vice presidents.
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