Piyush Gupta, who served as Managing Director at Peak XV Partners, is departing the venture firm at the end of this month, according to sources familiar to the matter. Gupta plans to launch his own secondary-focused fund, which Peak XV intends to work closely with to facilitate transactions at its portfolio firms, sources added.
The departure, described as amicable by the sources, was communicated to Peak XV’s limited partners during the firm’s annual gathering last month. Additionally, the marquee venture firm announced plans to launch a perpetual fund during the same meeting.
Gupta, who joined Peak XV in 2017 as the leader of its strategic development team, played a pivotal role in several marquee deals during his tenure, including PayPal’s investment in Pine Labs, the $200 million fundraise by the same startup, and Canada Pension Plan Investment Board’s (CPPIB) investment in the edtech giant Byju’s, as per his LinkedIn profile.
While Gupta did not serve as an investing partner at Peak XV, his imprint was visible across various initiatives, most notably Pitstop, the firm’s flagship program that facilitates global investor interactions with its portfolio companies annually.
Gupta’s future endeavor will focus on the burgeoning secondary market in India, where Peak XV itself has facilitated notable exits, including those of Pine Labs, Zomato, GoColors, and K12 Techno Services, in the past couple of years through secondary transactions.
