Piper Serica Angel Fund crosses $12m fundraising target

By Delisha Fernandes

Piper Serica, an Angel Fund investing in technology-backed Startups announced that it has crossed its target corpus of Rs 100 crore ($12 million) and is exercising the green-shoe option of another Rs 25 crore ($3 million)

The Piper Serica Angel Fund focuses on funding tech-backed businesses that have successfully found their target market.

The fund continues to be sector-neutral, but most of its investments are made in businesses with standout intellectual property (IP) that appeals to consumers. The fund actively seeks co-investment opportunities and has created strategic alliances with like-minded investors.

Since its inception in October 2022, the Angel fund has demonstrated a strong track record of identifying and capitalising on promising investment opportunities. However, the Fund will stop taking subscriptions from the end of June. The fund has already made 12 investments, with an additional 4 investments currently undergoing due diligence processes.

With an unwavering commitment to innovation and collaboration, the Fund has swiftly established a formidable presence within the startup ecosystem, forging strong partnerships with exceptional co-investors. Commenting on the closure, said Rajni Agarwal, Director of Piper Serica Angel Fund. “We extend our heartfelt gratitude to our investors and partners for their unwavering trust. With our collaborative approach and unwavering dedication, we have become a driving force in the startup ecosystem.”

Ajay Modi, VP, of Piper Serica Angel Fund said, “In a short period of time we have partnered with leading incubators, accelerators and other start-up funds. This has kept our deal flow very strong. We are very excited about the investment opportunities that we are seeing. Our strong deal flow, quick decision making backed by AI/ML supported decision-making tools and ability to add value to portfolio companies will keep our investment pace strong.”

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 fraud detection.