Harshjit Sethi, the managing director at Peak XV Partners, steps down; expresses his decision to venture into a fresh phase, terming it as 'a new innings'.

In a significant move, managing director Harshjit Sethi has announced his departure from Peak XV Partners after nearly a decade with the investment firm. The news comes at a pivotal moment for the company, as Sethi transitions to pursue his next chapter.

Sethi expressed gratitude for his contributions at Peak XV, stating in a statement that he is focused on serving limited partners (LPs) and founders. He also described the evolution of the Indian startup ecosystem during his tenure, highlighting the growth of ambition, scale, digital infrastructure, and capital markets.

Sethi's resignation comes after a decade-long career at the firm, which began when it was still known as Sequoia India. Over time, his focus expanded to enterprise software and AI, where he spearheaded investments in firms such as Darwinbox, Enterpret, and RapidCanvas. He also played a leading role in articulating Peak XV's AI investment thesis during recent discussions with limited partners.

Sethi was closely involved with several startups during his tenure, including fintech startups Turtlemint, Bright Money, and smallcase, as well as the jobs marketplace Apna. He also led Peak XV's AI investments and served on the boards of established startups such as BharatPe.

Peak XV Partners is currently raising its first independent fund, targeting a corpus of $1.2 billion to $1.4 billion. The firm has not yet announced a successor to replace Sethi, and no public information is available about who will take on the role.

In a recent move to bolster its AI focus, Peak XV Partners hired Arnav Sahu, a former Y Combinator principal, for its newly created San Francisco team in June. With Sahu on board, the firm is well-positioned to continue its growth and success in the AI sector.

Sethi tendered his resignation earlier this week and is expected to serve a period of gardening leave before formally leaving the firm. He wrote a LinkedIn post following reports of his exit, mentioning his decade-long tenure at Sequoia India and Peak XV.

As Sethi moves on to new opportunities, he expressed excitement about partnering with founders at the earliest stages, looking forward to the next decade. The investment industry will be eager to see what lies ahead for both Sethi and Peak XV Partners.

Harshjit Sethi, the managing director at Peak XV Partners, steps down; expresses his decision to venture into a fresh phase, terming it as 'a new innings'.