Early-stage venture capital firm pi Ventures, which invests in artificial intelligence and Deeptech startups, is looking to raise INR 565 Cr ($75.7 Mn) with a greenshoe option of INR 185 Cr ($24.8 Mn) for its second fund, which could stretch to over $100 Mn if the fund is oversubscribed. The venture fund will be used to invest in 25 Indian startups.
The VC firm has already received market regulator Securities and Exchange Board of India’s (SEBI) approval in March 2021 to raise the fund. pi Ventures will continue to focus on early stage investments across seed, pre-Series A and Series A rounds in startups that are looking at disruptive AI technologies as well as deep tech sectors — including space technologies, material science, biotech and life sciences.
