MSME-focused digital lenders are increasingly gaining traction as banks slow down on unsecured consumer loans. This and more in todays ETtech Morning Dispatch.
The Peak XV Anchor Fund will be backed by an internal pool of capital, according to a letter sent to investors. Formerly known as Sequoia India & Southeast Asia, the venture-capital firm rebranded as Peak XV Partners last year and is now fully independent.
Peak XV is creating an "evergreen" fund bankrolled by its investment partners and extended team, a source familiar with the matter told TechCrunch, as the venture firm seeks to become a significant LP in the firm's future vehicles and explore investment in different asset classes. The most influential investor in India and Southeast Asia revealed the news to its limited partners at its annual general meeting in New Delhi this week. With the "perpetual" fund, Peak XV aims to bring "a culture of high accountability and alignment with LPs" and "differentiated" capability to grow as an institution, according to an LP source familiar with the matter.