Pi Ventures, an early-stage venture fund, has successfully closed its second fund, raising a total commitment of Rs 702 crore, surpassing its target of Rs 565 crore.
The fund received investments from various institutional players, entrepreneurs, and family offices, including SIDBI, BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, and Premji Invest.
Pi Ventures primarily focuses on investing in AI and deeptech startups in India. With the new fund, the firm has already invested in seven startups and plans to invest in 20-25 more in the next two to three years. The first fund, raised in 2018 with Rs 225 crore, supported 15 deeptech startups.
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