VENTURE capital firm Sequoia Capital is splitting into three, with the South-east Asia and India business now known as Peak XV Partners.

Sequoia’s China operations will be known as HongShan in English, and its US and Europe business will retain the Sequoia name. In a press release, Peak XV says that from inception all three operations have been built as separate businesses, with independent decision-making.

There has been some brand confusion and portfolio conflict over the years as the firm scaled, and strategies across the different businesses diverged. The leaders of each business have collectively decided to move to be fully independent, to serve founders and limited partners (LP) better.

“Our firm will continue to be managed by the present leadership team, and will continue to invest from the most recently raised set of funds focused on India and South-east Asia,” said Shailendra Singh, managing director of Peak XV.

Peak XV will manage over US$9.2 billion across 13 funds. The investment team is led by 11 managing directors with an average tenure of 12 years at the firm.

The new venture capital firm will continue to invest across seed, venture and growth stages, in sectors such as cybersecurity, software-as-a-service, fintech and consumer. The Surge and Spark programmes will also be strengthened by the new firm.

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“We are seeing companies emerge from every region with global ambitions. The flexibility that comes with the new structure will open up an unbounded global opportunity and help create more value for our founders and LPs,” said Singh.