pi Ventures explores exits from first fund

Bengaluru-based deeptech-focused venture capital firm pi Ventures is preparing to exit its investments from its first fund, Fund I, as the vehicle approaches the end of its lifecycle. These efforts coincide with the firm initiating preliminary talks to secure capital for its planned third fund.Founded in 2016 by Manish Singhal, the firm pi Ventures launched its initial USD 30 million fund to invest in the artificial intelligence and deep-tech sectors. In 2022, the firm announced its second fund with a target corpus of USD 85 million, which received backing from British International Investment (BII), the International Finance Corporation (IFC), SIDBI, and various family offices.