Piyush Gupta, one of the operating leaders at Peak XV Partners, is leaving the firm to launch his own fund later this month, four people familiar with the matter told TechCrunch.

Gupta joined Peak XV (known as Sequoia India and SEA) in 2017, leading the strategic development team of the influential venture firm. Before joining Peak XV, he spent more than a decade at Morgan Stanley and Deutsche Bank focusing on similar things – mergers, acquisitions and IPOs.

Although Gupta did not serve as an investment partner at Peak XV, he played a key role in some of its programs, including Pitstop, where investors from around the world each year pitch to Peak XV's portfolio of startups. Let's get in touch.

“For early-stage companies, we take a more programmatic approach, like UpSurge, where we provide a platform for multiple companies to meet multiple investors over the course of a few days. In later stages, M&A It can be a pivotal moment in the journey to becoming a large, sustainable company. At the top XV reads his bio.. “Where our work becomes incredibly interesting is when we help companies on their pre-IPO journey. Going public is an event and a milestone, but the work continues and continues. Preparation is key.”

News of Gupta's departure was conveyed by PackXV Partners to its limited partners at its annual meeting last month, said a person familiar with the matter, where the fund also Unveiled plans to launch a permanent fund. which will be bankrolled by its investment partners and expansion team.

Two people familiar with the matter said the two are parting on amicable terms. Gupta plans to launch a secondary-focused fund and Peak XV plans to work with him to facilitate transactions across its portfolio firms.

Peak XV declined to comment and Gupta did not respond to a text.

Secondary transactions are on the rise in India. Peak XV itself has seen some exits over the past couple of years through secondary transactions – Pine Labs, K12. Holding firm in Mamaearth, Zomato, K12 Techno Services, Go Colors 10x stood at the plus multiple. As of last November, TechCrunch reported at the time.

Sentinel One Got PingSafe.An early-stage startup in India raised more than $100 million earlier this year, TechCrunch previously reported. PingSafe, which counts Peak XV's addition among its backers, had raised less than $4 million before the acquisition deal.