Piper Serica has achieved the first close of its Bharat Tech Fund at Rs 300 crore, while former KKR executives Sanjay Nayar and Johannes Huth, along with a group of family offices, are backing a new mid-market buyout firm.
Piper Serica makes first close of Bharat Tech Fund
Mumbai-based asset manager Piper Serica has achieved the first close of its Bharat Tech Fund at Rs 300 crore, per an announcement. The fund is targeting to raise a total of Rs 800 crore.
The Category II AIF will invest in Indian deeptech startups across sectors such as semiconductors, defence, spacetech, fintech, robotics, biosciences and advanced electronics. It plans to invest Rs 25-50 crore per company, according to a media statement.
Piper Serica launched its deeptech investment strategy in 2022. Its first fund has backed Alt Mobility, Pantherun, Rupeeflo, OTPless, Yaanendriya, Vobiz and Six Sense Mobility.
The firm said nearly half of the commitments for the first close came from existing investors in its first fund.
Ex-KKR execs to anchor buyout fund Arjav Capital
Former KKR fund managers Sanjay Nayar and Johannes Huth, along with a group of family offices, are backing a new mid-market buyout firm, Arjav Capital, per a report by The Economic Times.
The firm is reportedly targeting a corpus of Rs 2,000-2,500 crore. It is looking to invest in Indian manufacturing and industrial companies that are using technology to grow and modernise.
It is said to have secured commitments of Rs 650-700 crore from a group of family offices. According to the ET report, the family offices that have backed it include those linked to former Bharti Enterprises vice chairman Akhil Gupta, Caravel Group’s Angad Banga, among others.
The fund plans to invest around Rs 400-450 crore per transaction, with a focus on control deals.
The fundraise comes as private equity investors in India adopt a more selective approach amid a challenging macro environment, with firms increasingly focusing on fewer, larger conviction bets.
