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Founded in 2017, pi Ventures is an early-stage venture capital firm based in Bengaluru, India. The firm specializes in deep technology and artificial intelligence, aiming to support disruptive companies that leverage advanced technology to address significant global challenges. The founding partners, Manish Singhal and Umakant Soni, bring extensive expertise in technology and entrepreneurship, establishing a strong foundation for the firm.
As of now, pi Ventures manages approximately INR 927 crore (around $112 million) across two funds. The firm has made a total of 39 investments, focusing primarily on early-stage companies in India and broader Asia. Notable limited partners include British International Investment (BII), International Finance Corporation (IFC), and a network of prominent Indian tech founders, enhancing the firm's credibility and reach.
pi Ventures invests in early-stage companies across a diverse range of sectors, including artificial intelligence (AI), machine learning (ML), robotics, energy, life sciences, quantum computing, advanced materials, and sustainability. The firm targets pre-seed, seed, seed-plus, and Series A stages, providing capital to innovators who are addressing pressing global issues. The investment strategy is tailored to align with evolving technological advancements and market needs, particularly focusing on Indian innovators.
The firm emphasizes a founder-first approach, offering patient capital and extensive networks to support entrepreneurs. This strategy allows pi Ventures to adapt its investments to the unique challenges and opportunities presented by the rapidly changing technology landscape. The firm seeks to partner with visionary founders who are committed to leveraging technology for impactful solutions.
pi Ventures has built a diverse portfolio of 39 companies, showcasing its commitment to deep technology and AI. Notable portfolio companies include:
This portfolio reflects pi Ventures' focus on companies that leverage advanced technology to solve significant global challenges, particularly in sectors like healthcare, logistics, and sustainability.
Manish Singhal: Founding Partner; he has a background in deep tech investment and entrepreneurship, with a focus on supporting innovative startups.
Umakant Soni: Founding Partner; an expert in AI and robotics, he serves as a board member of the Sweden-India Business Council, bringing international experience to the firm.
Shubham Sandeep: Partner; he plays a key role in sourcing and evaluating investment opportunities within the firm.
Milan Roy: AVP; he contributes to the firm's investment strategy and portfolio management.
Vinit Agrawal: VP - Finance & Legal; he oversees financial operations and legal matters for the firm.
Sparsh Kumar: AVP; he supports the investment team in various capacities, focusing on operational aspects.
To pitch to pi Ventures, founders should visit their website at piventures.in. It is important to include a comprehensive business plan in the pitch deck, detailing the technology, market opportunity, and team background. The firm prefers pitches that clearly outline the startup's vision and the problem it aims to solve.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial, as they can enhance the likelihood of a favorable response.
In January 2022, pi Ventures achieved the first close of its second fund at INR 300 crore (approximately $36 million), ultimately closing at INR 702 crore (around $85 million). This fund aims to make 20-25 investments in sectors such as spacetech, AI, biotech, and materials science.
Recent notable portfolio additions include companies like ImmunitoAI, which focuses on AI-powered drug discovery, and Silence Laboratories, specializing in privacy and security technology. These investments reflect pi Ventures' commitment to supporting innovative startups that leverage advanced technology.
What are pi Ventures' investment criteria?
pi Ventures focuses on early-stage investments in deep technology and artificial intelligence. They look for companies that leverage advanced technology to address global challenges, particularly in sectors such as AI, robotics, and biotech.
How can I apply or pitch to pi Ventures?
Founders can pitch to pi Ventures through their website at piventures.in. It is recommended to include a detailed business plan and information about the technology being developed.
What makes pi Ventures different from other VC firms?
pi Ventures emphasizes a founder-first approach, providing patient capital and extensive networks to support entrepreneurs. Their focus on deep technology and AI sets them apart in the Indian venture capital landscape.
What is the geographic scope of pi Ventures' investments?
The firm primarily invests in India and broader Asia, targeting innovative companies that are solving significant global problems.
What is the typical check size for investments?
pi Ventures invests at various stages, including pre-seed, seed, seed-plus, and Series A, with check sizes varying based on the stage and specific needs of the startup.
What kind of post-investment involvement does pi Ventures have?
pi Ventures provides strategic guidance, access to a robust network of industry experts, and operational support to help portfolio companies navigate challenges and scale effectively.
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