Indian venture fund pi Ventures has secured INR 100 crore ($12m) or 15% of the corpus out of the Fund of Funds for Startups (FFS) managed by the Small Industries Development Bank of India (SIDBI). This comes after the company's announcement of an investment of INR 22 crore from Belgium's Colruyt Group in its second fund. pi Ventures has committed to seven startups so far and plans to invest in 20-25 such startups in the coming two to three years, focusing on seed/pre-Series A/Series A investments in startups focused on disruptive artificial intelligence (AI) and other forms of deep tech.
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Indian Early-Stage Venture Fund Pi Ventures Raises $12M From SIDBI
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