Peak XV Partners

Peak XV Partners is the rebranded, independent successor to Sequoia Capital India and Southeast Asia, formally separated from the global Sequoia franchise in 2023 and headquartered in Bengaluru. Even after a self-imposed downsizing of its growth fund (the firm cut its active fund size by more than $400M to roughly $2.4B and most recently raised a combined $1.3B across new India and APAC vehicles in late 2025), Peak XV remains the deepest-pocketed and most institutionally credible multi-stage venture firm in the region, with cumulative AUM that previously exceeded $9.2B across thirteen funds during the Sequoia India era. The partnership has navigated visible turbulence, including the high-profile departures of senior managing directors Shailesh Lakhani and Abheek Anand to launch Ambition Capital with a target $250M corpus in early 2025, but the platform Mohit Bhatnagar and the remaining MDs operate is still the standard-setting franchise for India and Southeast Asia healthtech founders chasing meaningful scale. The healthcare and AI portfolio is unusually deep by Indian standards. Qure.ai, the Mumbai-based deep-learning radiology company, is the flagship and arguably one of the most globally relevant clinical AI franchises to come out of India, with deployments across emerging-market hospital systems and an active roadmap into US and European reimbursement; Peak XV has stayed on the cap table across multiple rounds. Practo, the long-running doctor discovery and telemedicine platform, anchors the consumer healthtech wedge and remains one of India’s most recognized digital health brands. Mosaic Wellness covers consumer health and direct-to-consumer therapeutics under brands like Man Matters and Be Body Wise, while Twin Health represents the metabolic-disease digital therapeutic thesis with a meaningful US footprint and clinical evidence that has attracted US payer interest. More recently, Peak XV led the $21M Series A in Arintra, the GenAI medical-coding company building autonomous coding infrastructure for US revenue cycle management, and the $10.5M Series A into Cloudphysician for AI-enabled tele-ICU critical care across Indian hospital networks. Together those bets articulate a clear thesis: AI plus regulated clinical workflows where India’s data density, English-language clinical documentation, and clinician cost structure create a global competitive advantage that translates into US enterprise revenue at high gross margins. The firm’s Surge accelerator, run twice a year, has become a meaningful filter and onramp for early-stage founders and has produced multiple healthcare alumni. Stage coverage runs from Seed through growth, with the firm comfortable writing $1M to $5M Seed and Series A checks via Surge and the early-stage practice while reserving meaningful capital for follow-on rounds out of the growth fund. Peak XV leads the majority of its early-stage rounds and almost always takes a board seat, and the firm’s signaling power is such that downstream funds explicitly weight Peak XV’s continued participation in their own diligence. Founders who fit are technical Indian and Southeast Asian operators building clinical AI with a defensible data moat, GenAI applied to revenue cycle and medical coding (an area where Indian engineering economics combine with US payer monetization), payer and provider workflow infrastructure, digital therapeutics with credible clinical evidence, and consumer healthtech models that can scale beyond a single country in the region. Founders who do not fit include therapeutics and biotech teams, single-country consumer plays without a regional or US-export thesis, US healthcare companies seeking a passive India check rather than a regional partnership, and AI research projects without a near-term commercial deployment story. The right intro path is through a portfolio CEO such as Qure, Practo, Twin, Mosaic, Cloudphysician, or Arintra, or via the Surge program for pre-seed and seed founders, which functions as a high-quality top-of-funnel and includes a structured curriculum that often matters more than the capital. Cold inbound is read; warm intros from existing portfolio founders or senior IIT-Stanford-Wharton operator alumni convert at meaningfully higher rates. In the pitch, lead with technical depth, regulatory literacy on CDSCO, FDA, or whichever regulator gates your wedge (and ideally both), a credible expansion thesis from India or SEA into a broader market, and clear evidence that your team can compound technical advantages rather than relying on first-mover positioning alone. The caveats: the firm is in a visible strategic transition, partner attention is finite and concentrated on the highest-conviction breakouts, reputational expectations are unusually high, and founders who underperform Peak XV’s bar can find themselves struggling to raise downstream from other top-tier funds that take Peak XV’s signal seriously, a positive feedback loop on the upside that becomes a real overhang on the downside.