Sequoia Capital, the venture capital firm, is in the process of splitting into three distinct entities, and as part of this restructuring, its business in South-east Asia and India will be rebranded as Peak XV Partners.

Sequoia Capital's operations in China will now be referred to as HongShan in English, while its business in the US and Europe will continue to operate under the Sequoia name. According to a press release from Peak XV, the three operations have been established as separate entities from the beginning, with autonomous decision-making capabilities.

With time, as the firm expanded, there have been instances of brand ambiguity and conflicts within the portfolio due to diverging strategies across different businesses. In light of this, the leaders of each business have made a collective decision to pursue full independence in order to better cater to the needs of founders and limited partners (LP).

“Our firm will continue to be managed by the present leadership team, and will continue to invest from the most recently raised set of funds focused on India and South-east Asia,” said Shailendra Singh, managing director of Peak XV.

Peak XV Partners will be responsible for overseeing a total of more than US$9.2 billion across a portfolio of 13 funds. Leading the investment team are 11 managing directors who, on average, have been with the firm for 12 years.

The recently formed venture capital firm will uphold its investment activities across multiple stages, including seed, venture, and growth phases, with a specific emphasis on sectors such as cybersecurity, software-as-a-service, fintech, and consumer industries. Furthermore, the firm plans to strengthen and bolster its Surge and Spark programs within the framework of the new structure.