Peak XV’s 17% Stake in India’s Groww Valued at $1.5 Billion, Marking a Landmark VC Milestone
- ByStartupStory | November 18, 2025
Peak XV Partners, the venture capital firm formerly known as Sequoia Capital India & Southeast Asia, holds a significant 17% stake in India’s leading investment platform Groww, valued at approximately $1.5 billion (around Rs 13,700 crore) following the company’s public listing. This milestone cements Peak XV’s position as one of the most successful venture investors in Indian tech, showcasing a remarkable return on investment from an initial outlay of roughly $30-35 million several years ago.
Groww, founded in 2016, started as a mutual fund investment platform and has since evolved into the country’s largest online stockbroking platform by active clients on the NSE. Its rapid growth and user-focused innovations have driven investor confidence, enabling Peak XV to reap enormous gains from its early backing.
Peak XV made its initial Series A investment in Groww about seven years ago from its $695 million Fund VI. Since then, the firm has strategically held on to most of its stake, selling off only a small fraction during Groww’s IPO’s offer for sale process. Despite offloading some shares, Peak XV still retains 17% ownership, worth Rs 13,700 crore ($1.5 billion) at current market valuations.
The investment represents an outstanding return multiple, estimated to exceed 50x on the original capital invested, with Peak XV having already realized sizeable gains by selling shares worth over Rs 1,583 crore ($180 million) during the IPO. This demonstrates the firm’s ability to back high-growth companies early and hold for long-term value creation.
Ashish Agrawal, Managing Director at Peak XV, highlighted that the firm’s conviction in Groww was rooted in the company’s obsessive focus on customer experience and disruptive product design. Early on, Groww differentiated itself by offering zero-commission mutual fund investments in a market dominated by costly, traditional brokers. This strategy successfully attracted and retained a young, millennial user base.
The strong post-IPO market performance has further validated Peak XV’s investment thesis, with Groww’s share price surging and reinforcing its valuation threshold. Peak XV’s stake valuation not only underscores the tremendous opportunity presented by India’s growing digital wealth management market but also highlights the maturing startup ecosystem’s capacity to generate world-class exits.
Groww’s founders, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, collectively hold a 26.1% stake and are not selling shares in the IPO, signaling long-term commitment. Other major investors like Y Combinator and Tiger Global have also trimmed shares but remain key stakeholders.
Overall, Peak XV’s $1.5 billion stake in Groww marks a defining moment for venture capital in India, illustrating the potential for outsized returns through patient capital and backing visionary founders. This success story is expected to inspire continued investor interest in India’s fintech and technology sectors, accelerating innovation and growth across the country’s financial services landscape.
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