Asset management firm Piper Serica has unveiled the Bharat Tech Fund, aiming to collect Rs 800 crore to invest in Indian tech startups. Ajay Modi, a director at Piper Serica, mentioned that they plan to finalize the fund by December.
The Bharat Tech Fund is categorized as a Category II Alternative Investment Fund, with a target of Rs 600 crore and an option for an additional Rs 200 crore. Piper Serica, based in Mumbai, already manages over Rs 1,400 crore in various markets.
Since launching its first fund in 2022, Piper Serica has been dedicated to supporting India’s tech startup scene. Modi emphasizes a shift in the Indian startup landscape, where founders are creating globally competitive, intellectual property-led businesses. “We seek founders with technical expertise and the ability to build scalable organizations,” he said.
Their investments span 35 companies in diverse sectors, including semiconductors, artificial intelligence, spacetech, defense technology, biosciences, and fintech infrastructure.
According to recent reports, the Indian startup ecosystem has shown resilience and growth, despite global economic challenges. In 2023, Indian tech startups raised over $10 billion in funding, indicating strong investor confidence.
In recent social media discussions, many users show excitement for homegrown tech innovations, reflecting a growing trend of support for local entrepreneurs and Indigenous technology solutions.
For more insights into the state of Indian startups, you can explore reports from NASSCOM.
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