Piyush Gupta, one of many working leaders at Peak XV Companions, is leaving the agency on the finish of this month to begin his personal fund, 4 individuals accustomed to the matter informed TechCrunch.

Gupta joined Peak XV (known as Sequoia India and SEA then) in 2017, main the influential enterprise agency’s strategic growth crew. Earlier than becoming a member of Peak XV, he centered on related issues – mergers, acquisitions, and IPOs – at Morgan Stanley and Deutsche Financial institution for greater than a decade.

Although Gupta didn’t function an investing accomplice at Peak XV, he performed an necessary function at a few of its applications together with Pitstop, the place buyers from throughout the globe liaison with Peak XV’s portfolio startups every year.

“For early-stage firms, we take a extra programmatic strategy, corresponding to UpSurge, the place we offer a platform for a number of firms to satisfy with a number of buyers over just a few days. At later phases, M&A could be a crucible second within the journey to changing into a big, enduring firm,” his bio on Peak XV reads. “The place our job will get extremely fascinating is once we assist firms via the journey from pre to publish IPO. Going public is an occasion and a milestone, however the work continues lengthy after that and preparation is vital.”

Information of Gupta’s departure was relayed by Peak XV Companions to its restricted companions at its annual gathering final month, one particular person accustomed to the matter mentioned, the place the fund additionally unveiled plans to launch a perpetual fund that will probably be bankrolled by its funding companions and prolonged crew.

The 2 are parting methods on cordial phrases, two individuals accustomed to the matter mentioned. Gupta plans to launch a secondary-focused fund and Peak XV intends to work intently with him to facilitate transactions at its portfolio companies.

Peak XV declined to remark and Gupta didn’t reply to a textual content.

Secondary transactions are on the rise in India. Peak XV itself has seen some exits — Pine Labs, K12 — via secondary transactions prior to now two years. The agency’s holding in Mamaearth, Zomato, K12 Techno Companies, Go Colours stood at a 10x-plus a number of as of final November, TechCrunch reported on the time.

SentinelOne acquired PingSafe, an early-stage startup in India, earlier this yr for greater than $100 million, TechCrunch reported earlier. PingSafe, which counted Peak XV’s Surge amongst its backers, had raised lower than $4 million earlier than the acquisition deal.