Ashish Agrawal, Ishaan Mittal, Tejeshwi Sharma leave PeakXV to set up new VC firm

The VC firm in a post on X said that it had decided to part ways with Agrawal. “After thoughtful consideration and discussions, it became clear that parting ways was in the best interests of our limited partners and the long-term interests of the firm. Following Ashish’s departure, Ishaan Mittal and Tejeshwi Sharma have decided to join him.”

PeakXV also added that this move was taken amid its focus on artificial intelligence and for making space for AI-native investors.

Agrawal, who had been with the firm for 13 years, was the Managing Director at Peak XV’s Venture arm and has led investments in companies such as the recently listed Groww and healthcare startup Pristyn Care.

Mittal was part of Peak XV’s Growth team and had joined the firm in 2016. He has churned out blockbuster returns on investments in recently listed firms Pine Labs and Bluestone as well as Mamaearth and Awfis.

Sharma had joined the company in 2018 and was also a part of its Growth team, leading investments into companies like CRED and Chargebee.

In a post on X, Agrawal said, “I am especially thrilled to be starting up with the two partners I have shared much of my life with. TJ (Tejeshwi) and I have known each other for 13 years. Ishaan and I go back over 28 years – we were one year apart in middle school. Together, we look forward to building a venture capital firm that supports the ambitions of the next generation of founders.”

@media (max-width: 769px) {
.thumbnailWrapper{
width:6.62rem !important;
}
.alsoReadTitleImage{
min-width: 81px !important;
min-height: 81px !important;
}

.alsoReadMainTitleText{
font-size: 14px !important;
line-height: 20px !important;
}

.alsoReadHeadText{
font-size: 24px !important;
line-height: 20px !important;
}
}

Also Read

Wakefit IPO promises huge windfalls for founders and early backer Peak XV

These exits add to a string of top-level exits at the venture capital firm at a time when it is looking to raise its first independent fund since parting from Sequoia India & Southeast Asia.

In 2025, Managing Directors Abheek Anand and Shailesh Lakhani left the firm, followed by Surge Partner Pieter Kemps and Managing Director Harshjit Sethi.

The firm recently saw a string of blockbuster returns from listings of portfolio companies Wakefit, Pine Labs, Bluestone, and Groww—among the firm’s marquee bets.