Daybreak One more senior exit at Peak XV. What’s behind the churn at India’s largest venture-capital firm?
10 snips
Sep 3, 2025 Recent departures at India's largest venture-capital firm raise eyebrows, highlighting a concerning trend. Harshjit Sethi, a key player in AI investments, has left, joining others like Shailesh Lakhani. This exodus coincides with a pivotal moment for the firm, as it anticipates major IPOs from companies like Groww and Pine Labs. The podcast delves into the paradox of experiencing financial success while facing internal turmoil. What does this mean for their global ambitions and future stability? Tune in for fresh insights.
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Success Amid A Leadership Exodus
- Peak 15 is hitting its best-ever exits even as senior partners leave in quick succession.
- That contrast makes the firm’s success look fragile rather than secure.
Big Wins Don’t Hide Structural Return Problems
- Peak 15's headline exits improve numbers but mask long-held weak distributions to investors.
- Even big wins like Oyo and Pine Labs delivered mixed returns or long holding periods.
Fee Cuts Shift Pressure Onto Partners
- Fee cuts from 2.5% to 2% helped placate LPs but reduced revenue as funds aged.
- Lower fees plus ageing funds make partner pay and headcount heavier on the firm.