Standing at 8,848.86 metres as the world’s tallest mountain, Mount Everest tests a climber’s physical and mental endurance, which explains why less than 6,000 people have successfully scaled its summit.
The recent metamorphosis of Sequoia India and Southeast Asia (SEA) into Peak XV Partners— inspired by Mount Everest’s original name—symbolises the challenges that the venture capital (VC) firm will likely encounter.
On June 6, 2023, Sequoia announced that it was spinning off Sequoia Capital (US/Europe), Sequoia China and Sequoia India and SEA into independent firms with distinct brands by March 2024. Sequoia India and SEA has been rebranded as Peak XV Partners and will continue to be led by Shailendra Singh, the man synonymous with the VC firm in the region.
This can be construed to mean that Singh is setting up his own VC company, independent from Sequoia Capital. But why and how is the moot question, given Sequoia’s strong legacy.
In a mail to its limited partners (LPs), Sequoia said that the spinoff decision was taken since “it has become increasingly complex to run a decentralized global investment business. For example, each business has evolved to meet the opportunities in their markets across a wide range of sectors. This has made using centralized backoffice functions more of a hindrance than an advantage. Additionally, as each entity’s portfolio has expanded to include companies that are becoming global leaders, we’ve seen growing market confusion due to the shared Sequoia brand as well as portfolio conflicts across entities.”
Esta historia es de la edición July 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición July 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Scale Stimulus
For technology start-ups, growth funding serves as the catalyst to scale, innovate, expand into new markets and make critical hires. New capital brings strategic value through investor expertise and industry network, customer introductions, helps maintain operational efficiency and mitigate cashflow challenges.The landscape of venture and growth financings in India has undergone a major shift since the pre-Covid era. The pandemic gave rise to a low-interest rate environment which saw an unprecedented inflow of capital into Indian start-ups with a very strong focus on high growth, often at the cost of high burn. Post-pandemic, the environment has seen a significant shift in focus towards sustainable growth, profitability and efficient unit economics.
The Best Valuation Need Not Be the Highest
Info Edge founder and veteran start-up investor Sanjeev Bikhchandani talks to Deepsekhar Choudhury about high valuations and corporate governance in start-ups. Edited excerpts
GCCS Shaping Start-Ups
The remarkable journey of global capability centres (GCCs) in India continues to set new benchmarks, enriching the nation's economic narrative.
Behind the Scenes
Evaluating start-ups is more than number crunching. While some factors are quantifiable, many are more nuanced. Here's a sneak peek inside the war room from where the rankings emerged
Start-Ups have Generated 17.28 Lakh Direct Jobs
Amardeep Singh Bhatia, secretary, department for promotion of industry and internal trade (DPIIT) tells Pushpita Dey about the government's various schemes to give start-ups a leg up.
On the Road Less Travelled
Our entrepreneurial journey as the founders of the CarDekho group proves the fact that ambition and ingenuity can flourish in the most unexpected places.
Being Local Matters
India's rapidly evolving consumer market, backed by a young, progressive population and a flourishing middle class, is a landscape of opportunity and complex challenges.
CELEBRATING EXCELLENCE: OUTLOOK BUSINESS SPOTLIGHT - ACHIEVERS AWARDS 2024
Recognizing Visionaries Who Inspire Growth, Innovation, and Progress
At the End of the Day, You Bet on Founders
Zerodha founder and chief executive Nithin Kamath tells Deepsekhar Choudhury that the philosophy of a company is what sets it apart and makes it special. Edited excerpts
Time to Go Global
India's defence and space start-up ecosystems have witnessed exponential growth in recent years, with over 1,000 defence and 250 space start-ups driving deep-tech innovation. Government initiatives such as Innovations for Defence Excellence (iDEX), positive indigenisation lists and allocation of 75% of the defence capital budget for domestic procurement, along with support from Indian National Space Promotion and Authorisation Centre (InSpace), have created vast opportunities.
