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The two are parting ways on cordial terms, two sources tell TechCrunch exclusively
Piyush Gupta , one of the operate loss leader at Peak XV Partners , is leave the firm at the conclusion of this month to start his own fund , four people intimate with the affair told TechCrunch .
Gupta join Peak XV , formerly known as Sequoia Capital India & SEA , in 2017 , leading the influential venture firm ’s strategic growth squad . Before link up Peak XV , he focused on alike thing — mergers , acquisitions , and IPOs — at Morgan Stanley and Deutsche Bank for more than a decade .
Gupta did n’t serve as an investing partner at Peak XV , but he played an important part in some of its programs , including PitStop , where investor from across the globe contact with Peak XV ’s portfolio startups each year .
concord to a source familiar with the matter , news of Gupta ’s departure was relay by Peak XV Partners to its modified partner at its annual gathering last month , where the investment company alsounveiled design to launch a perpetual fundthat will be bankrolled by its investment partner and prolonged team .
The two are separate way on cordial terms , two people intimate with the thing said . Gupta plan to launch a secondary - focused investment trust , and Peak XV intends to work closely with him to facilitate dealings at its portfolio firms .
Peak XV declined to comment and Gupta did n’t reply to a text .
Secondary dealing are on the salary increase in India . Peak XV itself has pick up some exits — Pine Labs , Zomato , GoColors and K12 — through secondary transactions in the past two yr . concord to update he has shared on his LinkedIn visibility , Gupta was involved in a series of deal , including PayPal ’s investment in Pine Labs , as well as the South Asian inauguration ’s $ 200 million fundraise . He was also involved in CPPIB ’s investiture in Byju ’s , Qwikcilver ’s sale to Pine Labs , the sale of Peak XV ’s minority stake in HealthKart and Dailyhunt to Sofina , and underwriting block cut-rate sale of shares in Indigo Paints .
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Earlier this class , SentinelOneacquired PingSafe , an former - stage startup in India , for more than $ 100 million , TechCrunch cover originally . PingSafe , which numerate Peak XV ’s Surge among its backers , had raised less than $ 4 million before the acquisition pot .
