Peak XV Partners slashes fees, reduces latest fund by $465 million

Peak XV lowered management fees to 2 per cent on three of its growth and four multi-stage funds, the firm said in a letter to investors, said sources

By Connect Gujarat Desk 02 Oct 2024 in Business

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Peak XV Partners slashes fees, reduces latest fund by $465 million

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Peak XV Partners, formerly part of Sequoia Capital, is reducing its latest growth fund by $465 million and cutting fees on other funds as soaring valuations make it harder to complete deals, especially in India.

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Peak XV lowered management fees to 2 per cent on three of its growth and four multi-stage funds, the firm said in a letter to investors, said sources

The venture capital firm also lowered carried interest, or share of profits, to 20 per cent for these funds, according to the letter. Peak XV cut its growth fund, first raised in 2022, by 16 per cent to $2.39 billion.