Bharat Tech Fund Announcement by Piper Serica

Piper Serica, an asset management firm based in Mumbai, has revealed the initial closing of its Bharat Tech Fund, which aims to raise Rs 800 crore. This first close has reached Rs 300 crore, just 45 days post-launch. Almost half of the financial commitments have originated from investors associated with Fund I. The Bharat Tech Fund, classified as a Category II Alternative Investment Fund (AIF), is dedicated to supporting Indian startups in sectors such as semiconductors, defence, space technology, fintech, robotics, biosciences, and advanced electronics.

Investment Focus of Bharat Tech Fund

With a typical investment size ranging from Rs 25 crore to Rs 50 crore, the fund is geared towards enhancing the growth of startups that are developing technologies capable of competing on a global scale from within India. Piper Serica Fund I has previously financed various technology ventures, including Alt Mobility, Pantherun, Rupeeflo, OTPless, Yaanendriya, Vobiz, and Six Sense Mobility.

Commitment to Technology-led Businesses

Piper Serica has expressed that the Bharat Tech Fund will particularly support founders who are creating technology-driven businesses tackling intricate engineering problems. The investment strategy is bolstered by a team of seasoned professionals and an advisory board filled with industry authorities.

Refined Investment Strategy

According to Piper Serica, the firm has sharpened its investment approach over several years while collaborating with founders who are pioneering IP-driven technologies. Piper Serica serves as an asset manager with diverse investments spanning both public and private sectors in India. Its venture capital initiatives target technology startups in areas such as artificial intelligence, semiconductors, advanced electronics, space and defence technologies, robotics, cybersecurity, and biosciences.