Shailesh Lakhani and Harshjit Sethi, former managing directors at Peak XV Partners, are launching Ambition Capital, an early-stage venture fund. Separately, travel fintech startup Scapia is said to be in discussions with US-based venture capital firm General Catalyst to raise about $50-60 million.
Peak XV alumni said to launch early-stage VC
Shailesh Lakhani and Harshjit Sethi, former managing directors at Peak XV Partners, are launching Ambition Capital, an early-stage venture fund, per a report by The Economic Times.
They will be joined by Mayank Porwal, who also served a stint at Peak XV, the report added.
The fund is said to be targeting a corpus of $250 million to invest in seed and Series A startups across a gamut of sectors such as AI, fintech, deeptech, and consumer technology.
Lakhani quit Peak XV Partners in 2023 after a tenure of 17 years, while Sethi spent over two years at the firm between 2023 and 2025. Porwal also left Peak XV in 2023.
Based in Bengaluru, the firm aims to make 26-30 investments, guided by themes including digital sovereignty and India-specific innovation.
Travel fintech Scapia eyes funding from General Catalyst
Scapia, a travel fintech startup headquartered in Bengaluru, is in discussions with US-based venture capital firm General Catalyst to raise about $50-60 million, according to a report by The Economic Times.
The negotiations are said to be at a preliminary stage.
The funding discussions come as the company looks to expand its co-branded credit card offerings and travel bookings business, the report added.
Established by former Flipkart executive Anil Goteti, Scapia operates at the intersection of travel and fintech, offering a co-branded credit card alongside an integrated travel booking platform that enables users to earn and redeem rewards on travel expenses.
It counts players such as Uni Cards, Niyo, and Jupiter as its competitors.
