Managing Director of Peak XV Partners, Piyush Gupta, Resigns to Launch His Own Fund

• ByStartupStory     |    April 23, 2024

Piyush Gupta, the Managing Director at Peak XV Partners, has announced his departure from the esteemed venture firm. Gupta, who has been instrumental in driving pivotal deals and strategic initiatives during his tenure, is set to launch his own secondary-focused fund, according to sources familiar with the matter.

The departure, described as amicable by sources close to the firm, comes as Gupta seeks to spearhead a new venture aimed at capitalizing on the burgeoning secondary market in India. Sources reveal that Gupta’s fund will closely collaborate with Peak XV, leveraging their expertise to facilitate transactions within the portfolio firms.

Gupta’s significant contributions at Peak XV are underscored by his involvement in high-profile deals, including PayPal’s investment in Pine Labs and the substantial fundraise by the same startup. His LinkedIn profile also highlights his pivotal role in facilitating the investment by Canada Pension Plan Investment Board (CPPIB) in the edtech giant Byju’s.

While not serving as an investing partner, Gupta’s influence has been far-reaching, notably through initiatives like Pitstop, the firm’s flagship program fostering global investor interactions with portfolio companies.

The news of Gupta’s departure and the subsequent launch of his fund were communicated to Peak XV’s limited partners during the firm’s annual gathering last month. Additionally, Peak XV unveiled plans to introduce a perpetual fund during the same meeting, signaling a strategic evolution within the venture firm.

Gupta’s forthcoming venture is poised to capitalize on the momentum of the secondary market in India, a realm where Peak XV has already facilitated notable exits. Recent years have seen Peak XV orchestrating successful secondary transactions involving prominent entities such as Pine Labs, Zomato, GoColors, and K12 Techno Services.

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