Indian VC Fund pi Ventures Secures INR 1 Billion Investment From SIDBI-backed FFS and Other Investors

It is reported that the Indian early-stage venture capital fund pi Ventures has announced that it has obtained an investment commitment of 1 billion Indian rupees (about 12 million US dollars) from the start-up fund (FFS) managed by the Small Industrial Development Bank of India (SIDBI), and has also received support from BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, Binny Bansal, Varun Alagh and other investors. Pi Ventures announced that it will use this funds to invest in cross industry deep technology startups such as artificial intelligence and blockchain. Currently, its investment portfolio in the encryption and blockchain industries includes Web3 cybersecurity company Silence Laboratories, industrial technology company SwitchOn, and blockchain B2B currency supply chain management platform OweMe. （technode.global）

India’s early venture capital fund pi Ventures has received an investment commitment of 1 billion rupees, focusing on innovative areas such as blockchain

Introduction

In early September, pi Ventures, an Indian early-stage venture capital fund, announced that it has secured an INR 1 billion investment commitment from the Small Industrial Development Bank of India (SIDBI)-managed Startup Fund (FFS) and other investors. This investment will enable the firm to invest in cross-industry deep technology startups, primarily in the fields of artificial intelligence (AI) and blockchain. pi Ventures’ existing investment portfolio in encryption and blockchain includes Silence Laboratories, SwitchOn, and OweMe.

About pi Ventures

pi Ventures is an Indian venture capital fund that invests in early-stage deep technology startups operating in healthcare, enterprise software, artificial intelligence, and blockchain. With a focus on post-seed investments, pi Ventures is committed to turning innovative ideas into successful businesses.

SIDBI-managed Startup Fund (FFS)

The Small Industrial Development Bank of India (SIDBI) manages the Startup Fund (FFS) to support innovation-driven startups. The FFS provides funding to both angel and venture capital investors who invest in such startups. The FFS has previously provided support to various VC funds such as Omnivore, Blume Ventures, and Saama Capital.

Other Investors

In addition to the SIDBI-managed Startup Fund (FFS), pi Ventures received investments from other investors such as BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, Binny Bansal, and Varun Alagh. These investors are well-known firms and individuals in their respective fields and offer pi Ventures diverse perspectives and expertise.

Investment Scope

The INR 1 billion investment commitment will enable pi Ventures to invest in cross-industry deep technology startups. The fund’s primary focus is on AI and blockchain startups, but it also invests in various other deep technology areas, including robotics, autonomous systems, and the internet of things. pi Ventures aims to support innovative ideas and businesses that have the potential to create a significant impact in the market.

Existing Investment Portfolio

pi Ventures has an existing investment portfolio that provides diversified exposure to the deep technology sector. It invests in startups that offer technological solutions that are both innovative and have significant market potential. Some of its investments include:
– Silence Laboratories: A cybersecurity company that is utilizing AI to offer an intelligent security platform for customers globally.
– SwitchOn: An Indian industrial technology company that is using AI to optimize energy usage in factories, thereby increasing productivity and reducing costs.
– OweMe: A blockchain-based B2B currency supply chain management platform that streamlines data sharing between businesses and suppliers, offering better trade finance solutions.

Conclusion:

pi Ventures, an Indian-based VC fund, has secured an INR 1 billion investment commitment from the SIDBI-managed Startup Fund (FFS) and other investors. The investment will allow pi Ventures to invest in deep technology startups, primarily AI and blockchain-based ventures. pi Ventures has an existing investment portfolio in encryption and blockchain technologies, and the firm aims to support innovative startups with technological solutions that have a significant market impact.

FAQs:

What is pi Ventures?

pi Ventures is an Indian venture capital fund that invests in early-stage deep technology startups operating primarily in healthcare, enterprise software, artificial intelligence, and blockchain.

What sectors does pi Ventures focus on?

pi Ventures invests in startups that offer technological solutions that are both innovative and have significant market potential. Its primary areas of focus are AI and blockchain startups, but it also invests in various other deep technology areas, including robotics, autonomous systems, and the internet of things.

Who are pi Ventures’ investors?

pi Ventures received investments from various investors, including BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, Binny Bansal, and Varun Alagh. These investors are well-known firms and individuals in their respective fields and offer diverse perspectives and expertise.