Gupta, who relies in Singapore, leads strategic growth for Peak XV and isn’t concerned with making investments. He led the staff that helped Peak XV’s portfolio firms with features similar to fundraising, mergers and acquisitions, and preliminary public choices.
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This marks the primary senior-level departure at Peak XV because it cut up from Sequoia Capital in June 2023. Moreover Gupta, the agency at the moment has 12 managing administrators together with Shailendra Singh, Rajan Anandan, Mohit Bhatnagar, GV Ravishankar and Shailesh Lakhani. These 12 MDs are a part of the funding staff.
“He’s set to depart on the finish of this month…and has already been in discussions with a number of buyers for his new fund. He’s anticipated to additionally work carefully with Peak XV Companions for potential secondary offers,” one of many folks stated. “Nonetheless, these are very early-stage discussions,” the individual added.
Gupta’s resolution to launch a fund targeted on secondary transactions comes at a time when the bigger enterprise funding ecosystem is witnessing an uptick in such offers, the place buyers commerce stakes with out the cash going within the firm.
Peak XV declined to remark.
Uncover the tales of your curiosity
ET reported on March 21 that enterprise capital buyers had been more and more partial exits from late-stage startups, as stress to report returns will increase amid a stoop within the know-how market.Within the final 12-14 months, funding rounds of $50 million and above have included a major secondary element that gives liquidity for current buyers.
Secondary stake transactions which have concluded or are within the works this 12 months embrace personal fairness agency TPG’s buy of a stake in logistics startup Shadowfax, Peak XV and Tiger International’s potential acquisition of a stake in ecommerce agency Meesho, and Malabar Investments’ plan to choose shares in magnificence retailer Sugar Cosmetics, as reported by ET.
ETtechGupta’s resolution to go away Peak XV was first reported by tech publication TechCrunch.
One of many folks cited above stated that Gupta, who has spent greater than a decade at Deutsche Financial institution previous to becoming a member of Peak XV Companions, has been concerned in a variety of sizeable secondary stake gross sales and public market offers made by Peak XV involving firms similar to Zomato, Go Colors, Pine Labs and Indigo Paints.
On March 12, ET reported that Peak XV was organising a brand new car backed by its inside pool of capital, which might permit the agency’s companions and senior leaders to take bets on a wider set of alternatives.
The fund is being arrange as a everlasting capital car which can permit the agency’s companions to develop and make investments throughout completely different areas, methods and sectors. These investments may very well be in public market firms, enterprise funds in different areas and specialisations that don’t compete with Peak XV’s present method.
