‘Many blitzscaler startups do not turn to discipline’

Riding on its outsized success of being one of the earliest backers of recently listed firms such as Groww and Pinelabs, India-focused venture capital firm Peak XV is building its strategy for the next decade. Estimates suggest the firm has taken home over $3.5 billion in exits over the past 24-30 months, clocking more than 10x returns.

- Satish John & Priyamvada C

Marking two decades of its existence in India, Peak XV plans to continue backing category-defining companies and corner largest stakes by doubling down. In an interview, Shailendra Singh, managing director and one of the founding members of the firm, talks about sunrise sectors the firm is betting big on and what keeps him awake. Edited excerpts:

Peak has seen phenomenal success in the past half a decade. How do you see this journey?

We will celebrate 20 years in India next year. The early years were not easy. India was still a small market with a very young tech ecosystem. At the same time, it was a privilege to be so early, because it allowed us to partner with companies that went on to become foundational. Many of them were doing well on the ground, but it was still difficult as an investor. Liquidity was limited, capital markets were underdeveloped, and the scale of venture-backed outcomes people talk about today was not yet visible.

What has changed in the ecosystem to ensure the large-scale outcomes that we are seeing today?