India, May 14 -- Former Peak XV Partners MDs - Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma - have launched Mettle Capital, a new India-focused VC firm, and are aiming to raise $350 Mn to $400 Mn for its maiden fund. This comes a few months after the trio quit Peak XV and said they would launch a new VC firm.

The fund will target Series A and B funding rounds, alongside selective seed investments, in startups across enterprise AI, deeptech, and consumer internet sector, ET reported, citing sources.

Mettle Capital has already initiated discussions with limited partners in the US, Europe, and Asia, and will also look to raise domestic capital. The fund aims to reach closure within the next quarter, with initial capital deployment ex...