Peak XV VP-Growth Suraj Agarwalla exits firm, Vedant Trivedi moves onto portfolio company

Suraj Agarwalla, Vice President with the Growth team at Peak XV Partners, has left the venture capital firm, a source told YourStory. The development comes after reports suggested that the firm is looking to raise its maiden India-focused fund, estimated to be between $1.2 billion and $1.4 billion.

Agarwalla had been with the firm for seven years and served his last day of employment on May 15, the source said. His profile has also been removed from the company’s website.

Additionally, Vedant Trivedi, who was part of Peak XV’s Surge team that focused on seed stage investments, has also moved on to join an artificial intelligence (AI) portfolio company, the source added. Trivedi was with the company for almost two years, according to LinkedIn.

Trivedi and Agarwalla join several executives who have left the firm post its split from US-based VC firm Sequoia Capital.

Peak XV did not respond to YourStory’s request for comment on these developments.

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In February, Shailesh Lakhani and Abheek Anand, Managing Directors of Peak XV, left the firm after serving 17 and 12 years, respectively.

Last year, Piyush Gupta, Managing Director of Peak XV, left the company to set up his secondary-focused venture capital firm, Kenton Capital.

In October last year, the fund also cut the size of its largest fund by 16% as growth-stage funding in the ecosystem slowed down. The firm, which raised $2.85 billion for its eighth fund in May 2022, will return about $465 million to its limited partners, people aware of the matter had told YourStory.

Peak XV is one of the largest VCs in India and has made several investments in high profile companies including BharatPe, Bluestone, and Meesho, among others.

A handful of its portfolio companies are reportedly eyeing listing on public bourses, including Pine Labs, Groww, Meesho, and Zetwerk.