Singapore-based Peak XV Partners, a venture capital firm focused on India and Southeast Asia, is revamping Surge and bringing the seed platform closer to its early-stage investing practice, according to people aware of the matter.

The change follows staff exits, a slower cohort pace since 2024, and less dedicated operating support, the sources said.

Managing director Rajan Anandan said Surge is not being reduced or folded into the wider firm. He also said Aaditya Sood remains at Peak XV in an advisory role for a set period.

Surge, launched in 2019 under Sequoia India and Southeast Asia, describes itself as a seed platform for company builders. Its website says it holds two cohorts a year.

Peak XV rebranded from Sequoia India and Southeast Asia in 2023 as part of Sequoia’s global split and said then that it would continue backing programs including Surge.

People aware of the matter said Peak XV is expected to allocate about US$225 million to Surge and other seed investments from its latest fund, down from US$300 million in 2022.

Peak XV announced US$1.3 billion in new capital commitments in February, and Anandan declined to comment on internal allocation figures.

🔗 Source: The Economic Times

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