• Invests in over 33 startups across technology-led sectors
• Deploys nearly ₹210 crore out of its ₹273 crore fund corpus
• Remaining ₹63 crore to be deployed over the next 2–3 months
• Portfolio includes Alt Mobility, Sensesemi, Pantherun, Freed, Coratia and Six Sense Mobility

Mumbai, 13th April’2026: Mumbai-based Piper Serica, a Category I Alternative Investment Fund (AIF) focused on technology-first companies, has announced that it has invested in over 33 startups across sectors such as deeptech, fintech, artificial intelligence, spacetech, defence, semiconductors, biosciences and other high-growth technology segments. The fund has so far deployed nearly ₹210 crore out of its total ₹273 crore fund corpus, with the remaining ₹63 crore expected to be deployed over the next 2–3 months. 

Founded in 2004, Piper Serica has spent over two decades identifying and backing founders building businesses at the intersection of technology, deep domain expertise, and structural market shifts. Operating through a SEBI-registered Category I AIF platform, the firm takes a conviction-driven approach to early-stage investing, prioritizing sectors where India’s scale, policy tailwinds, and manufacturing ambitions create durable, long-term opportunities.

Piper Serica’s portfolio spans high-conviction bets across deeptech, mobility, cybersecurity, biosciences and fintech including Alt Mobility, Sensesemi, Pantherun, Freed, Coratia, and Six Sense Mobility. Over the last three years, the fund has recorded zero write-offs, while consistently attracting follow-on institutional participation and delivering early liquidity events, a track record that reflects both disciplined deal selection and active portfolio stewardship.

Ajay Modi, Director, Piper Serica, said, “India is transitioning from consumption-led to capability-led growth. A ₹6+ lakh crore defence procurement pipeline, a $10 billion semiconductor mission, and a deregulated space sector are creating durable industrial demand. The most interesting founders today are building around IP and engineering depth  along with strong distribution focus. These are 5–7 year compounding businesses, and that’s precisely where Piper Serica invests..”

“With 33 startups backed and nearly ₹210 crore deployed, our portfolio reflects deliberate sector concentration not diversification for its own sake. We back founders solving structurally broken problems in markets where the window to build defensible IP is narrow and the stakes are high. That conviction hasn’t changed as we deploy the remaining capital  if anything, it’s sharper.”, he further added. 

As deployment from the current corpus continues, Piper Serica remains focused on backing startups operating at the intersection of innovation, execution, and market relevance. The fund will continue to invest in businesses that are aligned with long-term structural opportunities across India’s technology and startup landscape

About Piper Serica

Piper Serica is a Mumbai-based asset manager. Through its Category I AIF, the firm invests in technology-first startups across deeptech, defence, semiconductors, spacetech, AI, and fintech. The firm invests where structural demand, technical depth, and long compounding horizons converge sectors defining India’s shift from consumption-led to capability-led growth.

By: Sandhya Bharti