Two senior partners are leaving Peak XV, one of the worlds largest venture capital firms, four sources familiar with the matter told TechCrunch.Shailesh Lakhani, a 17-year veteran of the firm, and Abheek Anand, who co-led Southeast Asian investments, are departing, said the sources requesting anonymity.Peak XV didnt immediately respond to requests for comment.The exits follow Peak XVs decision in October to cut its fund size by more than $400 million to $2.40 billion and reduce management fees, moves that reflected growing caution in Indias venture market after years of soaring valuations.At the time, Peak XV said it was trimming the fund to become more deeply aligned with its limited partners. Lakhani has been behind several successful investments for Peak XV, including beauty brand Minimalist, which last month sold to Hindustan Unilever for $350 million, as well as Ixigo and Truecaller, both of which went public. At least three of the companies he led investments in Zetwerk, Capillary and Porter are preparing for IPOs within 12-15 months.Other companies he brought into Peak XVs fold include OneCard, Polygon, CoinSwitch, HealthKart and CarDekho.Anand has led investments in edtech startup Cuemath, trade platform Openborder, Indonesian e-commerce company Ula, and online grocer Grofers (acquired by Zomato and rebranded to Blinkit, now the top quick-commerce business in India).Anand joined the firm 12 years ago.The two will continue to hold some of their existing board representations, other people familiar with the matter said.The two exits are the latest in a series of departures at Peak XV, which split from Sequoia in mid-2023. That split, the firms said, was driven by the need to avoid conflicts amid rising U.S.-China tensions. Peak XV, formerly Sequoia Capital India, rebranded and became independent while retaining the largest venture capital operation in India and Southeast Asia.The firm still has 10 managing directors overseeing more than 400 portfolio companies, which include over 50 unicorns.The changes come as Indias venture industry faces a cooldown after years of aggressive growth. Investors have grown more selective, emphasizing profitability over the growth-at-all-costs model that dominated during the bull years following the COVID-19 pandemic.