Peak XV is creating an “evergreen” fund bankrolled by its funding companions and prolonged workforce, a supply acquainted with the matter advised TechCrunch, because the enterprise agency seeks to turn into a major LP in its personal future autos and discover funding in new asset courses.

Essentially the most influential investor in India and Southeast Asia revealed the information to its restricted companions at its annual common assembly in New Delhi this week. The “perpetual” fund goals to convey “a tradition of excessive accountability and alignment with LPs” and differentiated functionality to develop as an establishment, based on an LP supply acquainted with the matter.

Peak XV, the enterprise agency previously often called India and Southeast Asia arm of Sequoia, didn’t disclose the scale of the brand new fund. Greater than 100 of its restricted companions are in New Delhi this week to have interaction with the enterprise agency.

The brand new fund, referred to as Peak XV Anchor Fund, will probably be funded fully by the enterprise agency’s companions and different senior leaders, the supply stated, requesting anonymity because the matter is personal. The fund will allow Peak XV Companions to have broader pores and skin within the recreation with its personal fund and in addition discover funding in newer areas, the supply stated. TechCrunch couldn’t determine these newer areas.

Peak XV didn’t instantly reply to a request for remark.