Peak XV, the largest India and Southeast Asia-focused venture firm, is reducing the size of some of its funds and lowering fees as it seeks to become “deeply aligned” with its limited partners. The firm, which raised $2.85 billion funds in mid-2022, informed its backers on Tuesday evening that it would cut $465 million from its 2022 vintage funds, according to an investor letter seen by TechCrunch. The venture capital group is scaling back its growth and multi-stage funds, while also trimming its economic structure for these vehicles to a baseline of 2% management fee and 20% carried interest, down from 2.5% and 30% respectively.
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