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Peak XV has made $1.2 billion in the year since separating from Sequoia

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Peak XV has reaped $1.2B in the year since it split from Sequoia

Peak XV Partners, the largest enterprise capital fund operating in India, has realized about $1.2 billion in profits since separating from Sequoia last year, two sources accustomed to the matter told TechCrunch.

The investor has sold stakes in nearly a dozen portfolio corporations that went public in the past year, including food delivery company Zomato, cosmetics retailer Mamaearth and anti-spam company Truecaller.

It has also sold stakes in some private startups, including K12 Techno, Pocket Aces, and PingSafe, through secondary deals and M&A. The company’s current funding totals $2.85 billion.

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Peak XV declined to comment.

The wave of exits comes as the Indian stock market hits record highs and the country’s stocks are trading at a big premium to other emerging markets. Macquarie analysts said in a recent note that India’s price-to-earnings ratio is about 21 times, compared with 10 times for emerging markets overall, 14.5 times for global markets, 17 times for the U.S. and eight times for China.

The IPO window has also opened in the country, whilst the market for brand spanking new listings stays subdued in the U.S. and far of the world. Indian corporations have raised about $9 billion through IPOs this year, and more are expected to list before the end of the year, Bank of America analysts estimate.

The $500 million block trade in Peak XV portfolio company Five-Star Business Finance, which was initiated on Thursday, was accomplished at mid-11.30 am (India time).

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Peak XV’s dominance in the region has generated a variety of interest and has piqued interest as a result of its scale and aggressive approach to investment. The company’s Surge program, which offers favorable terms and extensive resources for early-stage startups, has turn out to be a coveted entry point for young startups in India and Southeast Asia, somewhat eclipsing the appeal of Y Combinator.

Earlier this year, Peak XV informed its partners about the launch of an endowment fund supported by its own partners, which is an expression of great confidence in the company’s long-term strategy and the potential of the region.

The company’s journey, which began greater than a decade ago under the Sequoia banner, has culminated in a staggering $9 billion in assets under management, with a further $2 billion waiting to be distributed. Its portfolio includes greater than 400 corporations, greater than 50 of that are unicorns, and about 40 of which have annual revenues in excess of $100 million.

Peak XV has also facilitated more IPOs than another India-focused enterprise capital fund. Since 2020 alone, 15 corporations from its portfolio have gone public.

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Last year, Sequoia split its China and India-Southeast Asia funds amid geopolitical tensions between the U.S. and China. The firms said they agreed to the split to avoid “increasing market confusion” and “portfolio conflicts between entities.”

The move sent shockwaves through the industry. Peak XV has since expanded beyond India and Southeast Asia, and has also expanded its team to the U.S.

In June this year, enterprise capital firm Matrix said it might also change the names of its subsidiaries in India and China.

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One of the last AI Google models is worse in terms of safety

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The Google Gemini generative AI logo on a smartphone.

The recently released Google AI model is worse in some security tests than its predecessor, in line with the company’s internal comparative test.

IN Technical report Google, published this week, reveals that his Flash Gemini 2.5 model is more likely that he generates a text that violates its security guidelines than Gemini 2.0 Flash. In two indicators “text security for text” and “image security to the text”, Flash Gemini 2.5 will withdraw 4.1% and 9.6% respectively.

Text safety for the text measures how often the model violates Google guidelines, making an allowance for the prompt, while image security to the text assesses how close the model adheres to those boundaries after displaying the monitors using the image. Both tests are automated, not supervised by man.

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In an e-mail, Google spokesman confirmed that Gemini 2.5 Flash “performs worse in terms of text safety for text and image.”

These surprising comparative results appear when AI is passing in order that their models are more acceptable – in other words, less often refuse to answer controversial or sensitive. In the case of the latest Llam Meta models, he said that he fought models in order to not support “some views on others” and answers to more “debated” political hints. Opeli said at the starting of this yr that he would improve future models, in order to not adopt an editorial attitude and offers many prospects on controversial topics.

Sometimes these efforts were refundable. TechCrunch announced on Monday that the default CHATGPT OPENAI power supply model allowed juvenile to generate erotic conversations. Opeli blamed his behavior for a “mistake”.

According to Google Technical Report, Gemini 2.5 Flash, which is still in view, follows instructions more faithfully than Gemini 2.0 Flash, including instructions exceeding problematic lines. The company claims that regression might be partially attributed to false positives, but in addition admits that Gemini 2.5 Flash sometimes generates “content of violation” when it is clearly asked.

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“Of course, there is a tension between (after instructions) on sensitive topics and violations of security policy, which is reflected in our assessment,” we read in the report.

The results from Meepmap, reference, which can examine how models react to sensitive and controversial hints, also suggest that Flash Gemini 2.5 is much less willing to refuse to reply controversial questions than Flash Gemini 2.0. Testing the TechCrunch model through the AI ​​OpenRoutter platform has shown that he unsuccessfully writes essays to support human artificial intelligence judges, weakening the protection of due protection in the US and the implementation of universal government supervisory programs.

Thomas Woodside, co -founder of the Secure AI Project, said that the limited details given by Google in their technical report show the need for greater transparency in testing models.

“There is a compromise between the instruction support and the observation of politics, because some users may ask for content that would violate the rules,” said Woodside Techcrunch. “In this case, the latest Flash model Google warns the instructions more, while breaking more. Google does not present many details about specific cases in which the rules have been violated, although they claim that they are not serious. Not knowing more, independent analysts are difficult to know if there is a problem.”

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Google was already under fire for his models of security reporting practices.

The company took weeks to publish a technical report for the most talented model, Gemini 2.5 Pro. When the report was finally published, it initially omitted the key details of the security tests.

On Monday, Google published a more detailed report with additional security information.

(Tagstotransate) Gemini

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Aurora launches a commercial self -propelled truck service in Texas

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The autonomous startup of the Aurora Innovation vehicle technology claims that it has successfully launched a self -propelled truck service in Texas, which makes it the primary company that she implemented without drivers, heavy trucks for commercial use on public roads in the USA

The premiere appears when Aurora gets the term: In October, the corporate delayed the planned debut 2024 to April 2025. The debut also appears five months after the rival Kodiak Robotics provided its first autonomous trucks to clients commercial for operations without a driver in field environments.

Aurora claims that this week she began to freight between Dallas and Houston with Hirschbach Motor Lines and Uber Freight starters, and that she has finished 1200 miles without a driver to this point. The company plans to expand to El Paso and Phoenix until the top of 2025.

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TechCrunch contacted for more detailed information concerning the premiere, for instance, the variety of vehicles implemented Aurora and whether the system needed to implement the Pullover maneuver or the required distant human assistance.

The commercial premiere of Aurora takes place in a difficult time. Self -propelled trucks have long been related to the necessity for his or her technology attributable to labor deficiencies in the chairman’s transport and the expected increase in freigh shipping. Trump’s tariffs modified this attitude, not less than in a short period. According to the April analytical company report from the commercial vehicle industry ACT researchThe freight is predicted to fall this yr in the USA with a decrease in volume and consumer expenditure.

Aurora will report its results in the primary quarter next week, i.e. when he shares how he expects the present trade war will affect his future activity. TechCrunch contacted to learn more about how tariffs affect Auror’s activities.

For now, Aurora will probably concentrate on further proving his safety case without a driver and cooperation with state and federal legislators to just accept favorable politicians to assist her develop.

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At the start of 2025, Aurora filed a lawsuit against federal regulatory bodies after the court refused to release the appliance for release from the protection requirement, which consists in placing warning triangles on the road, when the truck must stop on the highway – something that’s difficult to do when there isn’t a driver in the vehicle. To maintain compliance with this principle and proceed to totally implement without service drivers, Aurora probably has a man -driven automotive trail after they are working.

(Tagstranslate) Aurora Innovation

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Sarah Tavel, the first woman of the Benchmark GP, goes to the Venture partner

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Eight years after joining Benchmark as the company’s first partner, Sarah Tavel announced that she was going to a more limited role at Hapeure Venture.

In his latest position as a partner Venture Tavel will proceed to invest and serve existing company boards, but may have more time to examine “AI tools on the edge” and fascinated with the direction of artificial intelligence, she wrote.

Tavel joined Benchmark in 2017 after spending a half years as a partner in Greylock and three years as a product manager at Pinterest. Before Pinterest, Tavel was an investor in Bessemer Venture Partners, where she helped Source Pinterest and Github.

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Since its foundation in 1995, the benchmark intentionally maintained a small team of six or fewer general partners. Unlike most VC corporations, wherein older partners normally receive most of the management and profits fees, the benchmark acts as an equal partnership, and all partners share fees and returns equally.

During his term as a general partner of Benchmark, Tavel invested in Hipcamp on the campsite, chains of cryptocurrency intelligence startups and the Supergreaty cosmetic platform, which was purchased by Whatnot in 2023. Tavel also supported the application for sharing photos of Paparazhi, which closed two years ago, and the AI ​​11x sales platform, about which TechCrunch wrote.

(Tagstotransate) benchmark

This article was originally published on : techcrunch.com
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