Former Peak XV’s Ashish Agrawal exits Groww board, to launch VC firm

Ashish Agrawal, one of the earliest backers of Groww and a key figure behind its early funding rounds, has resigned from the board of Billionbrains Garage Ventures, the parent of the fintech platform, with effect from April 20, 2026.

The company disclosed the development in its exchange filing following a board meeting. 

Agrawal, who served as a Nominee Director, has also stepped down from all board committees, including the Corporate Social Responsibility Committee and the Stakeholder Relationship Committee, the filing noted.

In a letter addressed to the board, Agrawal described his seven-year association with Groww as “a highlight” of his professional career.

“It’s been incredibly fulfilling to see the company evolve from a young startup to a publicly traded company and I am glad to have played a small part in the journey,” he wrote, adding that he was confident the company is in “able hands.”

Agrawal has been closely associated with Groww since its early days at Peak XV Partners (formerly Sequoia India & Southeast Asia), where he led the firm’s Series A investment in the company.

Must read: ‘We are defined by the choices we make…’: Peak XV downsizes growth fund in India by 16%

Over the years, Peak XV built one of the largest shareholdings in Groww, holding around 17% at the time of its public listing. Despite the IPO, the firm sold only a small portion of its stake, about Rs 1,583 crore worth of shares, to meet regulatory requirements, retaining the bulk of its holding.

Earlier in February, he exited Peak XV, ending a long stint with the venture capital firm.

Agrawal said he will now move on to start a new venture capital firm, marking a shift from backing startups as an investor within a large fund to building his own investment platform.

Groww Q4 results

Billionbrains Garage Ventures Ltd on April 20 reported a sharp 122% year-on-year (YoY) rise in its consolidated net profit for the fourth quarter ended March 31, 2026 (Q4 FY26).

The company's profit surged to Rs 686 crore in Q4 FY26, compared to Rs 309 crore in the corresponding period last year.

The fintech company's total income rose 80.73% YoY to Rs 1,536 crore, up from Rs 850 crore in Q4 FY25. Operating performance remained robust, with EBIDTA increasing by 141.81% YoY from Rs 388 crore to Rs 939 crore. Groww's platform EBIDTA margin stood at 66.93% during the quarter.