Mumbai-based asset management firm Piper Serica has deployed nearly Rs 210 crore across more than 33 startups through its Category I Alternative Investment Fund (AIF). Out of the total fund corpus of Rs 273 crore, the remaining Rs 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 startups like Alt Mobility, Sensesemi, Pantherun, Freed, Coratia Technologies, and Six Sense Mobility.
Ajay Modi, Director at Piper Serica, stated that India is currently transitioning from consumption-led to capability-led growth. He noted a Rs 6+ lakh crore defence procurement pipeline, a USD 10 billion semiconductor mission, and a deregulated space sector are creating durable industrial demand.
Modi emphasized that the fund’s portfolio reflects deliberate sector concentration rather than diversification, backing founders solving structurally broken problems in markets with narrow windows to build defensible IP.
