Peak XV Partners is celebrating one of its biggest investment wins as Pine Labs made a strong public debut this week. The venture capital firm marked the moment with trays of Pine Labs–themed cupcakes across its offices, highlighting the success of an investment journey that began more than 15 years ago.

Peak XV first backed the digital payments and fintech company in 2009. The firm later invested an estimated $32–35 million in Pine Labs’ major institutional round in 2014. Since then, Peak XV has gradually sold part of its stake through secondary transactions, realising around $550 million over the years.

Even ahead of the IPO, Peak XV still held just over 20% of Pine Labs—valued at nearly $570 million—and is expected to retain about 17% after listing. According to reports, the firm’s la

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