The second fund’s final close has been announced by early-stage venture capital firm Pi Ventures, which makes investments in deep tech and artificial intelligence firms. With a total investment of Rs 702 crore ($85 million), the fund closed above its target of Rs 565 crore.
Along with entrepreneurs and family offices, the fund is supported by a number of institutional actors, including BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, and Premji Invest, as reported by The Economic Times.
“India is a great place to build deeptech companies. We are privileged to have a role to play in the journey to put India on the deeptech map of the world,” said Manish Singhal, founding partner, Pi Ventures.
The fund will keep its emphasis on artificial intelligence (AI) and other deep tech areas in fields related to material sciences, biotechnology, blockchain technology, and space technology.
About Pi Ventures
Manish Singhal established Pi Ventures in 2016. This Indian-based startup fund is in the early stages of operation. As we quickly witness software and hardware goods coming together using artificial and machine intelligence to develop disruptive initiatives across numerous sectors, the fund will concentrate on supporting product and technology firms in the areas of connected artificial intelligence, machine intelligence, and the Internet of Things.