Piper Serica to invest ₹180-220 crore in deeptech startups this fiscal

Piper Serica is gearing up to invest between ₹180 crore and ₹220 crore across 4-6 deep-technology startups during the current fiscal year, targeting high-growth opportunities in India's emerging tech landscape. The investment firm is focusing on sectors including space technology, semiconductors, advanced electronics, renewable energy and life sciences, according to Ajay Modi, Director at Piper Serica.

The capital will be deployed through the firm's newly-established Bharat Tech Fund, a Category II Alternative Investment Fund seeking to raise ₹600 crore with an additional greenshoe option of ₹200 crore. The fund has already mobilised approximately ₹400 crore, demonstrating strong investor confidence in deeptech opportunities within India.

Piper Serica has shortlisted opportunities from an evaluation of 30-35 startups and expects to make initial commitments within the next month. Individual investment cheques are typically expected to range from ₹25 crore to ₹50 crore per company, positioning the fund as a significant player in India's deeptech financing ecosystem.

The fund's focus on deeptech addresses a critical gap in India's venture capital landscape, where early-stage capital for hardware and capital-intensive technology ventures remains limited. By directing institutional capital towards space, semiconductors and advanced manufacturing, the fund aims to strengthen India's technological self-reliance in strategic sectors.