Mumbai-based asset management firm Piper Serica on Monday said it has deployed nearly ₹210 crore across more than 33 start-ups through its Category I Alternative Investment Fund (AIF).
Of the total fund corpus of ₹273 crore, the remaining ₹63 crore is expected to be deployed over the next two to three months, the company said in a statement.
The SEBI-registered fund focuses on early-stage, technology-first companies across high-growth sectors such as deeptech, fintech, artificial intelligence, spacetech, defence, semiconductors, and biosciences.
Its current portfolio includes start-ups like Alt Mobility, Sensesemi, Pantherun, Freed, Coratia Technologies, and Six Sense Mobility.
Ajay Modi, Director at Piper Serica, said India is currently transitioning from consumption-led to capability-led growth.
“A Rs 6+ lakh crore defence procurement pipeline, a $10-billion semiconductor mission, and a deregulated space sector are creating durable industrial demand. The most interesting founders today are building around IP and engineering depth along with a strong distribution focus,” Modi said.
He further added that the fund’s portfolio reflects deliberate sector concentration rather than diversification.
“We back founders solving structurally broken problems in markets where the window to build defensible IP is narrow and the stakes are high. That conviction hasn’t changed as we deploy the remaining capital,” Modi added.