Peak XV Partnersa leading venture capital firm in India and Southeast Asia, has seen a new round of senior departures. It follows other leadership exits in the past year as it pushes ahead with plans to deepen its AI investment focus and expand its footprint in the US, while maintaining India as its largest market.

The latest departure stems from an internal disagreement with senior partner Ashish Agrawal (pictured above, left) that led to a mutual decision to part ways, Managing Director Shailendra Singh told TechCrunch. He added that two other colleagues, Ishaan Mittal (pictured above, right) and Tejeshwi Sharma (pictured above, centre), chose to leave with him.

Singh said Peak XV did not want to go into the details of the disagreement and was focused on moving forward. “From privacy, and outside, like, trying to be classy about it,” he said. Singh added that such departures are not uncommon at large, multi-stage venture firms and that Peak XV wanted to move on quickly after years of working together.

All the board seats held by the departing partners will be transferred “soon,” Singh said, noting that the firm has overlapping representation in several portfolio companies. He said Peak XV is not worried about continuity, as several general partners and operating partners are already involved on most of the boards.

The departures mark the exit of longtime investors from the company. Agrawal has been with Peak XV for more than 13 years, while Ishaan Mittal has spent more than nine years with the company and Tejeshwi Sharma more than seven years, according to their LinkedIn profiles.

Agrawal WRITES in a post on LinkedIn that he decided to “take the entrepreneurial plunge” and teamed up with Mittal and Sharma to start a new venture capital firm. He described the move as an opportunity to build a new institution with longtime partners and thanked Peak XV’s leadership for what he called a “truly wonderful partnership.”

During his time at Peak XV, Agrawal led fintech, consumer, and software investments, including Groww, one of the company’s most prominent IPO exits in 2025. He also backed several early and growth-stage companies with Mittal and Sharma, contributing to Peak XV’s broader portfolio build-out over the past decade.

Agrawal, Mittal, and Sharma did not respond to messages for comments.

Peak XV also moved to strengthen its senior leadership from within. The firm on Tuesday promoted Abhishek Mohan to general partner, expanding the investment bank to lead investment, while Saipriya Sarangan was elevated to chief operating officer, overseeing operations across the firm.

The leadership changes come amid a standout year for Peak XV portfolio exits. Five of its companies – Grow, Pine Labs, Meesho, Wakefitand Capillary Technologies – went public in November and December 2025, generating nearly ₹300 billion (approximately $3.33 billion) in unrealized, mark-to-market gains for the company, in addition to about ₹28 billion (approximately $310.61 million) in realized gains from share sales during the IPOs.

In addition to the latest departure, Peak XV saw a wider churn in his senior ranks in the last 12 months. Last year, longtime investment leaders Harshjit Sethi and Shailesh Lakhani left the India team, while Abheek Anand and Pieter Kemps left the firm’s Southeast Asia operations. The company has also seen leadership changes across its marketing, policy, and operations teams in recent months.

Singh dismissed a view circulating in the market that many of the partners who drove Peak XV’s biggest exit are no longer with the company, calling the narrative “statistically untrue.” He said that several of the company’s most significant results were led by long-time partners who remained at Peak XV, and argued that the company’s exit track record does not depend on any one individual.

Peak XV currently has seven general partners, along with several partners and principals, according to Singh.

The VC firm, which split from Sequoia Capital in 2023 and currently manages over $10 billion in capital across 16 funds, has made about 80 AI-related investments, Singh said, highlighting its push to deepen its focus on AI funding. It is also preparing to open a US office within the next 90 days as it expands its global footprint, per Singh, while continuing to see India as its biggest and most important market.

Singh stated that the company believes that AI will change the investment industry more profoundly than previous technological changes, arguing that successful investment in AI requires investors with deep technical understanding rather than “generalist” experience. He added that Peak XV intends to add more AI-native talent, including researchers and engineers with backgrounds in machine learning and large-scale model development.

The firm has invested in more than 400 companies, and its portfolio has seen over 35 initial public offerings and several M&As to date.