New Delhi, Feb. 20 -- Leading venture capital firm Peak XV, an early backer of public companies such as Zomato, Groww and Meesho, has raised $1.3 billion in fresh capital commitments to deploy across India, the broader Asia-Pacific region and select global markets.

The capital will be allocated across its India Seed, India Venture and APAC funds, the firm's top executive said, marking the close of a fundraising process that began nearly a year ago.

"In prior cycles, we've always followed four strategies at Peak XV. But in the growth fund, we have lots of dry powder; so, we did not yet raise a growth fund," said Shailendra Singh, managing director at Peak XV Partners.

Singh added that the fund sizes are quite similar to the last cycle, ...