Ashish Agrawal has stepped down from the board of Groww and will launch a new venture capital firm, marking a shift from investor to entrepreneur.
Agrawal resigned from his role as nominee director with effect from 20 April 2026 and has also stepped down from all board committees, the report said.
In a letter to the board, Agrawal described his seven-year association with Groww as “a highlight” of his professional career. He thanked fellow board members, founders and the management team, and reflected on the company’s growth trajectory.
“It’s been incredibly fulfilling to see the company evolve from a young startup to a publicly traded company,” he wrote, adding that he believed the company remains in “able hands”, according to Moneycontrol.
Agrawal had been closely involved with Groww since its early stages, having led the Series A investment while at Peak XV Partners.
Early bet delivers strong returns
Under Agrawal’s involvement, Peak XV built one of the largest shareholdings in Groww. At the time of the company’s listing, the firm held a 17% stake valued at around Rs 13,700 crore, or about $1.5bn, Moneycontrol reported.
Despite the initial public offering, Peak XV retained most of its holding, selling shares worth roughly Rs 1,583 crore to meet regulatory requirements. The firm’s total investment of about $30–35m translated into returns exceeding 50 times.
Shift to a new venture
Agrawal said he will now set up a new venture capital firm, signalling a transition after backing one of India’s most prominent fintech startups.
His departure comes after Groww’s evolution from an early-stage startup to a publicly traded company, a journey he referenced in his resignation note.
The move marks a leadership change at the board level for Groww, while also pointing to continued churn within India’s venture capital ecosystem as senior investors branch out independently.
Agrawal’s next venture is expected to build on his experience backing high-growth startups, though details on the new firm have not yet been disclosed.
