In the latest high-profile spin-off within India’s venture capital landscape, former Peak XV Partners executives Shailesh Lakhani, Harshjit Sethi, and Mayank Porwal have teamed up to launch Ambition Capital. The new firm is reportedly seeking to raise $250 million to back the next generation of early-stage startups.
Focused Investment Strategy
Based in Bengaluru, Ambition Capital is positioning itself as a specialist in Seed and Series A rounds. The firm intends to build a concentrated portfolio of 26 to 30 companies, focusing on high-growth sectors including:
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Artificial Intelligence (AI)
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Fintech
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Deeptech
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Consumer Technology
The fund’s core philosophy centers on “digital sovereignty” and India-led innovation, targeting entrepreneurs who are building solutions for the domestic market as well as those scaling Indian tech for a global audience.
A Pedigree of Experience
The founding team brings decades of institutional knowledge to the table. Shailesh Lakhani, a 17-year veteran of Peak XV (formerly Sequoia Capital India), has a proven track record of identifying winners, having backed successful ventures such as Ixigo, Zetwerk, and Minimalist.
He is joined by Harshjit Sethi, also a former Managing Director at Peak XV, and Mayank Porwal, further cementing the firm’s deep roots in the Indian startup ecosystem.
The Growing Trend of “Spin-off” Funds
Ambition Capital’s debut marks a continuing trend of senior leadership from tier-one firms branching out to start independent boutiques. This movement mirrors the 2018 launch of A91 Partners by former Sequoia leaders and coincides with reports of another group of Peak XV alumni—including Ashish Agrawal and Ishaan Mittal—planning their own separate venture.
The emergence of these veteran-led funds signals a maturing market where experienced investors are seeking more agility and specialized focus in a competitive deal-making environment.
By: Sandhya Bharti
