Peak XV Partners, a prominent venture capital firm in India and Southeast Asia, has experienced a wave of senior leadership departures amid its strategic pivot toward deepening AI-focused investing and expanding into the U.S. market. The latest exits include senior partner Ashish Agrawal, along with Ishaan Mittal and Tejeshwi Sharma, who left the firm following an internal disagreement, according to Managing Director Shailendra Singh. Singh declined to elaborate on the nature of the disagreement, citing privacy and professionalism, and emphasized that such transitions are common in large, multi-stage venture firms. He noted that the firm was focused on moving forward quickly and that board roles left vacant by the departing partners would be transitioned promptly. Singh also pointed out that multiple general and operating partners already had overlapping representation across portfolio companies, ensuring operational continuity. Agrawal, who had been with Peak XV for over 13 years, Mittal (nine years), and Sharma (seven years) were key figures in the firm’s growth. Agrawal led investments in fintech, consumer, and software sectors, including high-profile exits like Groww’s 2025 IPO. In a LinkedIn post, Agrawal announced he was launching a new venture capital firm with Mittal and Sharma, calling it an opportunity to build a new institution with long-time colleagues. He expressed gratitude for his time at Peak XV, describing it as a “truly wonderful partnership.” The trio did not respond to requests for comment. In response, Peak XV has strengthened its leadership from within. Abhishek Mohan was promoted to general partner, expanding the firm’s investment leadership, while Saipriya Sarangan was elevated to chief operating officer, overseeing firm-wide operations. The leadership changes come on the heels of a standout year for Peak XV’s portfolio. Five of its companies—Groww, Pine Labs, Meesho, Wakefit, and Capillary Technologies—went public in late 2025, generating approximately ₹300 billion ($3.33 billion) in unrealized gains and ₹28 billion ($310.61 million) in realized gains from share sales. Despite the recent departures, Singh pushed back against market speculation that the firm’s success was tied to a shrinking core of legacy partners. He stressed that many of the firm’s major exits were led by long-tenured team members still at Peak XV, and that the firm’s track record remained strong and diversified. Peak XV, which split from Sequoia Capital in 2023, now manages over $10 billion across 16 funds and has made around 80 AI-linked investments. The firm plans to open a U.S. office within the next 90 days as part of its global expansion, while maintaining India as its primary market. Singh emphasized that AI is transforming venture capital more than any prior technological shift, requiring investors with deep technical expertise in machine learning and large-scale model development. The firm is actively recruiting AI-native talent, including researchers and engineers. With over 400 portfolio companies and more than 35 IPOs and M&A exits to date, Peak XV continues to position itself as a leading force in the region’s tech ecosystem, even as it navigates internal transitions and a rapidly evolving investment landscape.