Mumbai-based Piper Serica Advisors Pvt. Ltd, a SEBI Registered Category 1 Angel Fund which focuses on investing in early-stage tech-based startups raises Rs 75 Cr funds from a wide range of investors and expects to raise the remaining 25 Cr in a couple of months to invest in start-ups with exponential growth models. The Angel fund has invested an undisclosed sum in ALT Mobility, Crediwatch, ZFW Dark Stores, Driffle and Oditly.
With an aim to invest in high-quality startups that use technology to create tangible value for their customers, Piper Serica launched its 100 Cr category 1 Angel Fund in September 2022. Since then, the company has invested in 5 companies and expects to invest in 25-30 companies more. The five companies include - ALT Mobility, a full-stack EV leasing platform offering mobility as a service (MaaS) for commercial vehicle users, Crediwatch, an information intelligence platform to offer financial organizations big data risk analysis, ZFW Dark Stores, a physical network of micro warehouses (dark stores) along with a strong tech integration to let D2C brands and consumer brands to deliver products on the same day thereby improving customer delight, Driffle, a marketplace built for gamers by gamers by addressing the customer experience for buying digital goods which have not been worked upon so far, and the Oditly, an enterprise-scale SaaS application enabling businesses of all sizes to digitize and automate the entire lifecycle of quality, safety, and compliance processes.
Piper Serica helps its portfolio companies scale up rapidly by helping them acquire clients, build teams and raise further rounds of capital. It takes a collaborative approach to investing with other like-minded investors.
The seed to IPO Fund already has a robust deal pipeline and aims to close 8 more deals by March end. These include a Supply chain management company, a CRM tech company, a Company that provides a global escrow platform for enterprises offering domestic and cross-border escrow solutions, a Cybersecurity company, and a Learning Management solution company to name a few.
Speaking on the announcement, Abhay Agarwal, Director of Piper Serica Advisors said, “We are very excited with the response we have received from investors and founders alike. We are investing in several high-quality companies and expect to have very profitable exits from them in line with our strategy. We are very happy with the presence we have created in the start-up ecosystem. We are seeing very high-quality deal flow from other funds, platforms, and directly from founders.”
Ajay Modi, Vice President of Piper Serica said “The much talked about funding winter has actually normalised the valuation expectation by founders. This is giving us access to good businesses run by very good founders and available at reasonable valuations.”