Piper Serica has announced the first close of its ₹800 crore Bharat Tech Fund at ₹300 crore, just 45 days after the launch of the fund. Nearly 50% of the commitments in the first close have come from investors who had previously invested in Piper Serica Fund I.

The Bharat Tech Fund is a Category II Alternative Investment Fund (AIF) focused on investing in Indian technology companies operating in sectors such as semiconductors, defence technology, spacetech, fintech, robotics, biosciences and advanced electronics.

The fund will typically invest ₹25 crore to ₹50 crore per company, with a focus on startups developing technology-led businesses and globally competitive intellectual property from India.

Focus on Deep-Tech and Technology-Led Businesses

According to Piper Serica, the fund will back founders working on complex engineering and technology challenges, emphasizing businesses that can build globally competitive products and intellectual property.

The investment strategy builds on Piper Serica’s experience of working with founders developing IP-led technology businesses over the past several years.

The fund is supported by an investment team and an advisory board comprising industry professionals with expertise across technology and related sectors.

Piper Serica’s Track Record

Piper Serica Fund I has invested in several technology-focused startups, including Alt Mobility, Pantherun, Rupeeflo, OTPless, Yaanendriya, Vobiz and Six Sense Mobility.

The firm is an India-focused asset manager investing across both public and private markets. Its venture capital platform focuses on emerging technology segments including artificial intelligence, semiconductors, advanced electronics, space and defence technology, robotics, cybersecurity and biosciences.

With ₹300 crore secured in its first close, the Bharat Tech Fund is targeting further commitments towards its ₹800 crore corpus as Piper Serica expands its focus on India's growing deep-tech and technology ecosystem.

Source: Press Release