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HomeLatest NewsTechnologyPeak XV's Piyush Gupta leaves firm to start own secondary-focused VC fund...

Peak XV's Piyush Gupta leaves firm to start own secondary-focused VC fund | Prime Time News24


Piyush Gupta, one of many working leaders at Peak XV Companions, has left the agency to begin his personal fund, 4 individuals conversant in the matter informed Prime Time News24.

Gupta joined Peak XV (referred to as Sequoia India and SEA then) in 2017, main the influential enterprise agency’s strategic growth group. Earlier than becoming a member of Peak XV, he centered on comparable issues – mergers, acquisitions, and IPOs – at Morgan Stanley and Deutsche Financial institution for greater than a decade.

Although Gupta didn’t function an investing associate at Peak XV, he performed an necessary function at a few of its applications together with Pitstop, the place buyers from throughout the globe liaison with Peak XV’s portfolio startups every year.

“For early-stage corporations, we take a extra programmatic strategy, reminiscent of UpSurge, the place we offer a platform for a number of corporations to fulfill with a number of buyers over a couple of days. At later levels, M&A could be a crucible second within the journey to turning into a big, enduring firm,” his bio on Peak XV reads. “The place our job will get extremely attention-grabbing is once we assist corporations by the journey from pre to submit IPO. Going public is an occasion and a milestone, however the work continues lengthy after that and preparation is essential.”

Information of Gupta’s departure was relayed by Peak XV Companions to its restricted companions at its annual gathering final month, one particular person conversant in the matter stated, the place the fund additionally unveiled plans to launch a perpetual fund that will probably be bankrolled by its funding companions and prolonged group.

The 2 are parting methods on cordial phrases, two individuals conversant in the matter stated. Gupta plans to launch a secondary-focused fund and Peak XV intends to work intently with him to facilitate transactions at its portfolio corporations.

Peak XV declined to remark and Gupta didn’t reply to a textual content.

Secondary transactions are on the rise in India. Peak XV itself has seen some exits — Pine Labs, K12 — by secondary transactions previously two years. The agency’s holding in Mamaearth, Zomato, K12 Techno Companies, Go Colours stood at a 10x-plus a number of as of final November, Prime Time News24 reported on the time.

SentinelOne acquired PingSafe, an early-stage startup in India, earlier this yr for greater than $100 million, Prime Time News24 reported earlier. PingSafe, which counted Peak XV’s Surge amongst its backers, had raised lower than $4 million earlier than the acquisition deal.

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