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.

Peak XV, the venture firm formerly known as India and Southeast Asia arm of Sequoia, didn’t disclose the size of the new fund. More than a hundred of its limited partners are in New Delhi this week to engage with the venture firm.

The new fund, called Peak XV Anchor Fund, will be funded entirely by the venture firm’s partners and other senior leaders, the source said, requesting anonymity as the matter is private.

The fund will enable Peak XV Partners to have broader skin in the game with its own fund and also explore investment in newer areas, the source said. TechCrunch couldn’t identify those newer areas. With Peak XV Anchor Fund, the venture firm plans to partner with other “managers across regions, strategies and sectors.”

Peak XV didn’t immediately respond to a request for comment.

Peak XV Anchor Fund is the investor group’s latest in a series of major bets in India and Southeast Asia, where it manages over $9 billion in AUM. The $2.85 billion fund, which during its separation with Sequoia had $2.5 billion dry powder for the region, was also early in launching an early-stage focused program, called Surge, that has made Y Combinator far less exciting for startups from India and Southeast Asia.

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