Piper Serica Announces INR300 Cr First Close of Bharat Tech Fund
Piper Serica has secured over one-third of its Bharat Tech Fund target, strengthening its focus on funding Indian startups in strategic deeptech sectors.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Mumbai-based asset manager Piper Serica has announced the first close of its INR800 crore Bharat Tech Fund at INR300 crore, within 45 days of launching the fund. The company said nearly 50% of the commitments came from existing investors in its first fund.
The Category II Alternative Investment Fund (AIF) will invest in Indian startups across semiconductors, defense, spacetech, fintech, robotics, biosciences and advanced electronics. The fund plans to invest INR25–50 crore in each company.
Piper Serica said the fund is seeing a strong pipeline of deeptech startups with commercial-scale operations, meaningful revenue and large order books. The company added that it began investing in deeptech startups in 2022 and has backed companies including Alt Mobility, Pantherun, Rupeeflo, OTPless, Yaanendriya, Vobiz and Six Sense Mobility through its first fund.
“The response to the Bharat Tech Fund shows that investors are looking at deeptech as a long-term opportunity, backed by the strong performance we’ve delivered through Fund I. We believe India’s next generation of global companies will come from founders who are solving complex problems using R&D and science. Sectors such as semiconductors, defense, spacetech, robotics, biosciences and advanced manufacturing have the potential to create long-term value for both investors and the country. Our objective is to support entrepreneurs who are building strong intellectual property and globally competitive businesses from India. We believe India has the talent, policy support and market opportunity to become a global deeptech leader,” said Ajay Modi, Director, Piper Serica.
The company said it had originally planned to achieve the final close of the fund by December 2026. Serica said it has already secured commitments for over one-third of its INR800 crore target.
Mumbai-based asset manager Piper Serica has announced the first close of its INR800 crore Bharat Tech Fund at INR300 crore, within 45 days of launching the fund. The company said nearly 50% of the commitments came from existing investors in its first fund.
The Category II Alternative Investment Fund (AIF) will invest in Indian startups across semiconductors, defense, spacetech, fintech, robotics, biosciences and advanced electronics. The fund plans to invest INR25–50 crore in each company.
Piper Serica said the fund is seeing a strong pipeline of deeptech startups with commercial-scale operations, meaningful revenue and large order books. The company added that it began investing in deeptech startups in 2022 and has backed companies including Alt Mobility, Pantherun, Rupeeflo, OTPless, Yaanendriya, Vobiz and Six Sense Mobility through its first fund.
