Peak XV Partners, one of India and Southeast Asia’s most influential venture capital firms, is navigating a rare bout of senior-level turbulence just as it sharpens its bet on artificial intelligence and prepares a bigger push into the United States.

Managing director Shailendra Singh confirmed that senior partner Ashish Agrawal is leaving the firm after an internal disagreement that both sides agreed not to detail publicly. In what Singh described as a “mutual decision to part ways,” partners Ishaan Mittal and Tejeshwi Sharma chose to depart alongside Agrawal, ending long tenures that helped shape Peak XV’s portfolio across fintech, consumer, and software.

Agrawal, who spent more than 13 years at the firm, wrote in a LinkedIn post that he is “taking the entrepreneurial plunge” and teaming up with Mittal and Sharma to launch a new venture capital outfit. He framed the move as a chance to build a new institution with long-time colleagues, while thanking Peak XV’s leadership for what he called a “truly wonderful partnership.”

Singh said all board seats held by the departing partners will be transitioned “imminently,” stressing that Peak XV already has overlapping representation on many company boards and is not worried about continuity. The firm currently counts seven general partners, supported by multiple partners and principals.

The exits come amid a broader reshuffle. Over the past year, senior investors including Harshjit Sethi and Shailesh Lakhani in India, and Abheek Anand and Pieter Kemps in Southeast Asia, have also moved on. Singh pushed back against market chatter that the partners behind Peak XV’s biggest wins have largely left, calling that narrative “not statistically true” and insisting that many of the firm’s most important outcomes were led by partners who remain.

At the same time, Peak XV is promoting from within. Abhishek Mohan has been elevated to general partner, while Saipriya Sarangan has been named chief operating officer, taking charge of firm-wide operations.

The leadership churn coincides with a period of strong liquidity. Portfolio companies such as Groww, Pine Labs, Meesho, Wakefit, and Capillary Technologies have recently gone public, adding substantial realized and unrealized gains to Peak XV’s track record of more than 35 IPOs and several acquisitions.

Singh said the firm, which split from Sequoia Capital and now manages over $10 billion across 16 funds, has already backed about 80 AI-linked startups and is preparing to open a U.S. office as it deepens its AI focus. He argued that AI will reshape venture investing more profoundly than previous technology cycles and that winning in the category will require “AI-native” investors with deep technical expertise, not just generalist backgrounds.