pi Ventures, a leading Indian venture capital firm, is set to close its second fund later this year for a sum between INR 675 crore and INR 750 crore, according to recent reports.
The fund is expected to make investments in a variety of emerging industries, including blockchain, space tech, and biotech. These investments will primarily target early-stage deep tech firms, providing crucial support and resources to these promising startups as they develop their technologies and bring them to market.
pi Ventures has a strong track record of backing deep tech startups in emerging industries, with investments in companies such as AgniKul, Pixis, and Wysa. The firm was established in 2016 by founding partner Manish Singhal and has since become a leading player in the Indian startup ecosystem, providing critical support to early-stage firms in a variety of emerging fields.
According to Singhal, pi Ventures is excited to partner with Colruyt, a leading European retailer, as it seeks to expand its reach and unlock new opportunities for its portfolio companies.
Colruyt Group India MD Hari Subramanian echoed these sentiments, noting that his company is excited to leverage its mutual capabilities with pi Ventures to contribute actively to the digital evolution.
The partnership between pi Ventures and Colruyt is expected to provide a significant boost to deep tech startups in emerging industries, providing critical resources and support to help these firms grow and develop.
With the second fund set to close later this year, pi Ventures is poised to play a major role in driving innovation and growth in the Indian startup ecosystem, and beyond.