India, May 17 -- When Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma quit Peak XV Partners earlier this year, it revived the debate around carry-share and power dynamics in the VC ecosystem. The departures came on the back of a monumental year for Peak XV which saw it get exits from notable portfolio companies, including Groww.

Agrawal in fact led Peak's first Rs.30-35 Cr investment in Groww in 2019. Overall, Peak XV invested close to $50 Mn (around Rs.400 Cr) over many years in Groww, which delivered more than 50X returns at the time of its IPO in November 2025.

Despite this success, all of a sudden, Agrawal was stepping away, along with two other partners.

This past week, the trio announced their next VC firm, Mettle Capital, just...