New fund · Professional & Local Services

Piper Serica deploys ₹210 crore in 33 startups

By Startup Enthusiast · 13 April 2026

What they do

Piper Serica is a SEBI-registered Category I Alternative Investment Fund based in Mumbai

It has deployed nearly ₹210 crore out of its ₹273 crore fund corpus across 33 startups

The fund has had zero write-offs in the last three years and focuses on deep tech, AI, and defence

Piper Serica VC Fund announced investments in over 33 startups.
It deployed nearly ₹210 crore out of its total fund corpus of ₹273 crore.
The remaining ₹63 crore will be deployed over the next 2–3 months.
Piper Serica is a Category I Alternative Investment Fund (AIF) registered with SEBI.
The fund was founded in 2004 and is based in Mumbai.
It invests in technology-first startups across deeptech, fintech, AI, spacetech, defence, semiconductors, and biosciences.
Portfolio companies include Alt Mobility, Sensesemi, Pantherun, Freed, Coratia, and Six Sense Mobility.
The fund reported zero write-offs in the last three years.

India is moving from consumption-led to capability-led growth, according to director Ajay Modi.
Modi cited ₹6+ lakh crore defence procurement, a $10 billion semiconductor mission, and a deregulated space sector as creating industrial demand.
The fund will continue backing startups at the intersection of innovation, execution, and market relevance.

Piper Serica is a venture capital fund that invests in early-stage technology startups.
It focuses on sectors such as deeptech, fintech, AI, spacetech, defence, semiconductors, and biosciences.
The fund is registered as a Category I Alternative Investment Fund (AIF) with SEBI.
It has a total fund corpus of ₹273 crore and has deployed ₹210 crore so far.
The fund has zero write-offs in the last three years, indicating strong portfolio performance.

The fund will deploy the remaining ₹63 crore over the next 2–3 months.
It will continue backing startups at the intersection of innovation, execution, and market relevance.

Piper Serica (investor) — A SEBI-registered Category I Alternative Investment Fund based in Mumbai, founded in 2004.