PROJECT

Projects

Summary of Investment Information

Project Number

39421

Company Name

PI VENTURES FUND - I

Date SPI Disclosed

Mar 21, 2017

Country

India

Region

South Asia

Projected Board Date

Apr 24, 2017

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Dec 14, 2022

Department

CTTVI - TMT, Venture Capital & Funds/Venture Investing

Industry

Funds

Previous Events

Approved : Apr 4, 2017
Signed : May 18, 2017
Invested : Aug 2, 2018

Sector

Other Non-Private Equity Fund

Project Description

The proposed project is an investment in Pi Ventures Investment Trust (or “Pi Ventures” or the “Fund”), registered with the Securities and Exchange Board of India (“SEBI”) as a Category I Alternative Investment Fund under the SEBI (AIF) Regulations, 2012. The Fund will invest in equity and equity linked instruments in 20-24 Artificial Intelligence (“AI”) / Machine Learning (“ML”) / Internet of Things (“IOT”) enabled companies focused on healthcare, smart cities, fintech, retail, cyber security, logistics and enterprise automation across India.

 The investment is through the IFC Startup Catalyst (“ISC”) program and is intended to support local innovation and entrepreneurship. Through ISC, IFC invests in sustainable seed stage funding mechanisms, including accelerators and seed funds, to support early stage local entrepreneurship on a global basis.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation