TLDR:
- Peak XV Partners introduces Peak XV Anchor Fund as a permanent capital vehicle.
- The fund aims to support new venture capital funds and explore diverse asset classes.
Peak XV Partners, formerly known as Sequoia Capital India and South East Asia, has unveiled the Peak XV Anchor Fund at a global investor meet in Delhi. This pioneering permanent capital vehicle (PCV) will serve as a major supporter of new venture capital funds and delve into various asset classes. The fund, set to start capital commitments from April 1, 2024, will not only back new venture capital endeavors but also explore opportunities in publicly listed entities on a global scale.
The Peak XV Anchor Fund stands out as the first venture capital firm to establish a perpetual fund directly from its internal balance sheet. This strategic move follows the division of Sequoia Capital in June 2023, leading to the formation of Peak XV Partners. The fund previously secured $2.85 billion as part of a new fund in 2022 and aims to enhance accountability and alignment with investors.
Permanent capital vehicles (PCVs) have gained prominence in the private equity sector to transcend lock-in periods, and this move by Peak XV aligns with recent considerations by the Securities and Exchange Board of India (SEBI) for potential PCV permissions. The leadership of the Anchor Fund is expected to be independent, emphasizing Peak XV’s commitment to innovation in venture capital financing.
With its ambition to become the largest supporter of new venture capital funds and explore untapped asset classes, the Peak XV Anchor Fund signifies a significant evolution in the landscape of venture capital financing.
