Ex-Peak XV Partners MDs Launch $250M Ambition Capital Fund Targeting India's Booming Early-Stage Startups

Former managing directors at Peak XV Partners, Shailesh Lakhani and Harshjit Sethi, alongside ex-colleague Mayank Porwal, have announced plans to raise a $250 million early-stage venture capital fund named Ambition Capital.

The trio, all alumni of Peak XV Partners—formerly Sequoia Capital India—brings decades of experience backing high-growth Indian startups.

Proven Track Record from Peak XV Days

During their tenure at Peak XV Partners, Lakhani and Sethi led investments in multiple unicorns, honing their expertise in spotting early winners in competitive markets.

Shailesh Lakhani exited the firm in June 2025 after contributing to key deals, while Harshjit Sethi, the AI investment lead, departed in September 2025 amid a wave of senior exits.

Mayank Porwal complements the team with his operational insights from previous roles within the same ecosystem.

Strategic Focus of Ambition Capital

Ambition Capital will target early-stage companies across promising sectors like technology, consumer internet, and fintech in India.

The fund's launch reflects a broader trend of seasoned VCs spinning out to form nimble, independent vehicles amid evolving market dynamics.

Impact on India's VC Ecosystem

This move intensifies competition in India's venture landscape, where early-stage funding has rebounded post-downturn with renewed investor appetite.

Historically, alumni from top firms like Peak XV have driven outsized returns, setting the stage for Ambition Capital to replicate success.

Looking ahead, the fund could catalyze innovation by providing tailored support to founders navigating regulatory and growth challenges.

Industry observers anticipate Ambition Capital closing its target corpus swiftly, leveraging the founders' networks and reputation.