Ashish Agrawal, Ishaan Mittal, Tejeshwi Sharma exit Peak XV Partners in latest departures

Peak XV Partners Ashish Agrawal (L), Tejeshwi Sharma and Ishaan Mittal (R)

Peak XV Partners has seen another round of senior exits, with Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma stepping down from the venture firm, marking the latest changes to its investment team amid an ongoing leadership reshuffle.

Peak XV Partners confirmed Ashish Agrawal has parted ways with Peak XV Partners, with Ishaan Mittal and Tejeshwi Sharma also exiting the venture capital firm, in a move the firm said was mutually decided and aligned with its plans to evolve its investment capabilities amid rapid changes driven by artificial intelligence.

Agrawal, responsible for Groww and other bets, was on the venture side and largely looked at fintech deals, including some on the consumer side. Mittal, famous for betting on Mamaearth, Razorpay and more, was on the growth side and dabbled on the consumer and fintech side, too.  Sharma, popular for bets on Cred, Whatfix and more looked at SaaS and fintech.

“I am stepping away from Peak XV Partners to pursue the biggest dream of my life: building a new venture capital firm with my partners and friends of nearly 15 years, Ashish and Ishaan Mittal," Sharma wrote on X, announcing his departure from Peak XV Partners to launch a new investment vehicle with his long-time collaborators.

Top deck reshuffle 

As the three prepare to move out, Peak XV said it has elevated Abhishek Mohan to Managing Director and General Partner from Principal in the venture team. He joined the firm in 2018 and has been involved in deals like Whole Truth and Mokobara. Similarly, Saipriya Sarangan has been elevated to chief operating officer from chief people officer.

The move reflects a wider pattern among senior Peak XV veterans striking out on their own.

Former managing director Shailesh Lakhani is also setting up an early-stage fund after exiting the firm last year, along with former MD Harshjit Sethi, who stepped down in September last year.

The two had joined other executives who left.

In 2024, Piyush Gupta, the former managing director of venture capital firm Peak XV launched Kenro Capital to target late-stage secondary deals. Abheek Anand and Anandamoy Roychowdhary are the other Partners who have all left Peak XV Partners over the past years.

Peak XV said it has been deeply committed to the India venture ecosystem for over two decades, during which it has backed hundreds of founders and seen 36 portfolio companies go public.

The firm said the latest changes would help it make room for AI-native investors as it adapts to a new phase of technological disruption, adding that its primary commitment remains to its limited partners and founders and that it remains confident about its team and long-term direction.

After the current changes, Shailendra J Singh, Rajan Anandan, Mohit Bhatnagar, Sakshi Chopra, GV Ravishankar, Rohit Agarwal and Arnav Sahu are the only prominent Partners and MDs left at the fund.