India, Feb. 20 -- VC firm Peak XV has announced three maiden funds - India Seed, India Venture and APAC Funds - its first independent funds after separating from Sequoia Capital in 2023.

In a statement on X and LinkedIn, the firm claimed that it has closed commitments for the three funds to the tune of $1.3 Bn.

"Along with significant uninvested capital in our existing Growth fund, we are excited about our ability to back outlier founders building category defining companies, across multiple stages, as we have done for two decades," the statement said

Without disclosing the names of its limited partners, Peak XV said that many of the investors backing the maiden funds are leading non-profit endowments and foundations.

The firm also di...