Piper Serica Angel Fund revealed that it has surpassed its ambitious Rs 100 crore angle fund corpus and is now considering the green-shoe option of securing another Rs 25 crore. The fund, which invests in early-stage tech-based startups, has already made 12 investments, additionally four are currently going through due diligence processes. The fund will halt taking subscriptions at the end of June.
“Fundraising in the current environment is undoubtedly challenging; however, we have strategically capitalised on the ‘funding winter,’ harnessing it to our advantage. Leveraging this unique market landscape, we have made exceptional investments thus far and cultivated a robust pipeline of investment opportunities,” said Rajni Agarwal, Director of Piper Serica Angel Fund, according to a press statement.
Piper Serica has evaluated more than 500 early-stage deals over the last 10 years, and has made over 50 investments
Launched in October 2022, the Mumbai headquartered Piper Serica has funded companies, including ALT Mobility, a full-stack EV leasing platform offering mobility-as-a-service for commercial vehicle users; escrow platform Castler; Floworks, an AI-enabled sales team assistant; Crediwatch, an information intelligence platform to offer financial organisations big data risk analysis; Zippee, a physical network of micro warehouses (dark stores); Driffle, a marketplace built for gamers; and Oditly, an enterprise-scale SaaS application enabling businesses to digitise and automate the lifecycle of quality, safety, and compliance processes.
“In a short period of time, we have partnered with leading incubators, accelerators, and other startup funds. This has kept our deal flow very strong,” Ajay Modi, VP, of Piper Serica Angel Fund, said.
Piper Serica Angel Fund is in advanced discussions to invest in companies in the space of cybersecurity, climate control, upskilling, overseas student accommodation, rural finance, AI-enabled banking solutions, and ad fraud detection.