The transformation, part of a global recast for Sequoia, comes at a time several startups in its India portfolio have been plagued with difficulties. In an interview, Shailendra Singh, managing partner at Peak XV, discussed the background to the restructuring, and the road ahead. Edited excerpts:
How did this restructuring come about? What pains do you anticipate going forward?
Our unyielding commitment is to do the right thing for our LPs [limited partners] and founders. So, we had to have a completely unyielding commitment to that. I have so many friendships and warm relationships with people in the US team. We have received advice, mentorship, help, support, everything—so, tons of gratitude. But I think this decision is really based on trying to set our founders and LPs in the best possible manner for the next 10-20 years. We tell our founders: don’t worry about optics, do the right thing. And we ask ourselves, let’s apply the same principles to ourselves.
Why is it so important that we create independent brands? Because our success can also create challenges for us. So, to your point—on real points of friction or pain in the last few years—it was all actually linked to portfolio conflict.
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