Peak XV Partners managing director Harshjit Sethi resigns; says, 'I’ve decided to explore a new innings'

Investment firm Peak XV Partners has witnessed another senior-level departure, with managing director Harshjit Sethi stepping down after nearly a decade at the venture capital firm.

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Sethi, who led Peak XV’s AI investments and served on the boards of established startups including BharatPe, tendered his resignation earlier this week. He is expected to serve a period of gardening leave before formally leaving the firm.

Sethi began his investment career at Sequoia India, which eventually rebranded as Peak XV Partners following its split from Sequoia Capital in June 2023, and backed fintech startups including Turtlemint, Bright Money and smallcase.

Over time, his focus expanded to enterprise software and AI, where he spearheaded investments in firms such as Darwinbox, Enterpret and RapidCanvas. He was also closely involved with Apna, the jobs marketplace, and other early-stage startups.

His resignation comes at a pivotal moment for Peak XV, which is raising its first independent fund after the split. The firm is targeting a corpus of $1.2 billion to $1.4 billion, media reports said.

Sethi played a leading role in articulating the firm’s AI investment thesis during recent discussions with limited partners. In June, the firm bolstered its AI focus further by hiring Arnav Sahu, a former Y Combinator principal, for its newly created San Francisco team.

“Harshjit will be transitioning from his role at Peak XV in the coming months to pursue his next chapter. We are deeply grateful for his contributions and remain focused on serving our LPs and founders,” said Peak XV spokesperson.

In a LinkedIn post following reports of his exit, Sethi wrote, “After a decade at Sequoia India and Peak XV, I’ve decided to leave the firm and explore a new innings. It’s been a journey rich in learning and relationships. The Indian startup ecosystem has evolved tremendously – the ambition of founders, scale of companies, digital infrastructure on which they are built, and the vibrancy of our capital markets have all grown faster than I first predicted.”

“There are few things that give me more joy than partnering with founders at the earliest of stages when belief matters most. Excited for the next decade!” Sethi added.