Mumbai-based asset supervisor Piper Serica has launched a brand new Class II Various Funding Fund (AIF), Bharat Tech Fund, with a possible corpus of Rs 800 crore, as investor curiosity in India’s deeptech sector gathers tempo.

The fund has a goal corpus of Rs 600 crore, together with a Rs 200 crore greenshoe possibility, and can deal with Sequence A and Sequence B startups working in areas akin to semiconductors, AI, spacetech, defence know-how, biosciences and fintech infrastructure.

Piper Serica mentioned the common investment dimension would vary between Rs 25 crore and Rs 50 crore, with the fund focusing on a gross inside fee of return (IRR) of about 30% over a median holding interval of six years.

The agency mentioned the fund is predicted to shut by December this 12 months.

Director Ajay Modi mentioned, “We spend money on founders who display three issues: the technical depth to construct one thing genuinely defensible, the management capability to construct an organisation round it, and the industrial self-discipline to scale it with unit economics that maintain,” Piper Serica’s director Ajay Modi mentioned.

“For the primary time, Indian founders are constructing IP-led, engineering-first companies which might be globally aggressive, not simply domestically related,” Modi mentioned.

Piper Serica mentioned it was working with establishments together with IIT Madras, IIT Delhi, IIT Bombay and Indian Institute of Science, in addition to government-backed innovation platforms akin to Improvements for Defence Excellence, Indian Nationwide Area Promotion and Authorisation Centre (IN-SPACe) and Defence Analysis and Improvement Organisation (DRDO) to determine funding alternatives.

The agency additionally makes use of a proprietary AI screening platform, Yoda.ai, to guage potential investments.

Based in 2003 by Abhay Agarwal, Piper Serica manages greater than Rs 1,400 crore in belongings throughout private and non-private markets.

The agency launched its first early-stage enterprise capital fund in 2022 with a goal corpus of Rs 100 crore. Since then, it has invested in 35 startups spanning sectors together with semiconductors, AI and spacetech.

In 2026, Piper Serica has backed startups together with Mysa, Sensesemi Technologies and Vobiz. Earlier this month, the agency invested $1 million in airport operations know-how startup Blunav.