PiperSerica

23/08/2026

[Bharat Tech Fund Trust - IN/AIF2/26-27/2182]

Piper Serica in The Secretariat.

Ajay Modi recently spoke to The Secretariat about India's private space sector, which now counts over 400 active startups and is projected to grow from about $8.4 billion today to $44 billion over the next decade.

Our view is that the constraint has shifted. The key challenge today is not the availability of capital, but the ability of startups to progressively de-risk their business — technology validation, a clear commercialisation roadmap, evidence of customer adoption and a scalable model. Of the 225 spacetech startups in India, 78 have raised institutional funding, and only a limited number have reached Series B or beyond.

The harder gap is experienced talent in specialised areas such as propulsion, avionics, embedded systems, satellite systems engineering, advanced manufacturing and mission assurance. That kind of knowledge is built on the job, which is why more industry-academia partnerships, apprenticeship programmes and collaboration with established aerospace organisations matter as much as capital does.

With the Indian Space Policy 2023, relaxed FDI norms and the IN-SPACe authorisation regime in place, what the sector needs now is an integrated ecosystem across the Centre, states, industry and academia — lower costs, faster commercialisation.

Grateful to the founders and partners building this ecosystem alongside us.

Full story in The Secretariat.
Link in the comments section.

#𝙑𝙚𝙣𝙩𝙪𝙧𝙚𝘾𝙖𝙥𝙞𝙩𝙖𝙡

16/08/2026

[Bharat Tech Fund Trust - IN/AIF2/26-27/2182]

Piper Serica in VCCircle.

Abhay Agarwal spoke to VCCircle about how Bharat Tech Fund is coming along. The fund reached its first close at ₹300 crore within 45 days of launch. Close to half of that came from people already invested with us in our public market products, which mattered to us more than the number did.

Target corpus is ₹600 crore, with a ₹200 crore greenshoe taking the fund up to ₹800 crore. The next close is where we expect institutional investors and financial institutions to come in. They tend to work on longer timelines, so we are looking at October or November for that.

The fund participates at Series A and above, across the deeptech areas we have been building conviction in for some time now. The thinking behind it hasn't changed since Fund 1. We back Indian companies that get their home market right first, learn quickly from it, and then go after something much larger outside India.

Grateful to the investors, distributors and partners who came in early on this one.

Full story on VCCircle. Link in the first comment, subscription required.

15/08/2026

As India celebrates its 80th Independence Day, we reflect not only on how far we have come, but also on the possibilities that lie ahead.

From the vision of self-reliance to the rise of innovation, entrepreneurship and indigenous technology, India is entering an exciting new chapter of growth. A new generation of innovators is building capabilities that can shape India's journey towards greater economic strength and global leadership.

At Piper Serica, we are proud to be part of this journey, backing ambitious businesses, supporting innovation and partnering with those working to build the next generation of Indian companies.

As we celebrate our freedom, we also look ahead to the future we have the opportunity to build together.

Built in India. Creating for the world. Building towards a stronger and more prosperous Bharat. 🇮🇳

Wishing everyone a very Happy Independence Day.

08/08/2026

[Bharat Tech Fund Trust - IN/AIF2/26-27/2182]

We're excited to announce the first close of Bharat Tech Fund. We are officially open for investing! We've hit the ground running with one term sheet already signed. Building on Fund 1's success, we're energized by the opportunities ahead: backing bold Indian founders creating technologies from India for the world.

India's golden era is here, driven by young entrepreneurs who'll turn every challenge into an opportunity. They need capital and conviction we're providing both. Skeptics will miss out on generational wealth.

Grateful to our investors, distributors, and ecosystem partners for their trust. Let's build India's entrepreneurial future, together.

25/07/2026

[Bharat Tech Fund Trust - IN/AIF2/26-27/2182]

It was a privilege to host one of our largest Innovation & Investment Dialogues in Surat, Gujarat, with an overwhelming participation from investors and the investment advisor community.

The session explored India's evolving startup ecosystem, the rise of technology-led businesses, and the growing awareness around private-market investing among sophisticated investors.

The enthusiasm, thoughtful discussions, and exceptional turnout made this a truly memorable event. We are grateful to Surat's investor community for making the dialogue such a remarkable success. 🙏

19/07/2026

Bharat Tech Fund Trust - IN/AIF2/26-27/2182]

It was a pleasure to host an Innovation & Investment Dialogue in Vadodara, Gujarat, with investors and the investment advisors community.

The session focused on India’s evolving startup ecosystem, the rise of technology-led businesses, and the growing awareness among sophisticated investors of private-market investing.

We are grateful for the thoughtful participation and engaging conversations from Vadodara’s investor community. 🙏

16/07/2026

[Bharat Tech Fund Trust - IN/AIF2/26-27/2182]

It was a pleasure to host an Innovation & Investment Dialogue in Anand, Gujarat, with investors and the investment advisors community.

The session focused on India’s evolving startup ecosystem, the rise of technology-led businesses, and the growing awareness among sophisticated investors of private-market investing.

We are grateful for the thoughtful participation and engaging conversations from Anand’s investor community. 🙏

20/04/2026

𝟐𝟐 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐏𝐢𝐩𝐞𝐫 𝐒𝐞𝐫𝐢𝐜𝐚 𝐚𝐧𝐝 𝐬𝐭𝐢𝐥𝐥 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 🌱

We marked this milestone by coming together as a team to reflect on what growth means to each of us, through colors, creativity, and shared moments.

A day filled with camaraderie, ideas, and energy that truly defines who we are.

Here’s to growing stronger, together.

15/04/2026

𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐚𝐫𝐞 𝐫𝐞𝐛𝐨𝐮𝐧𝐝𝐢𝐧𝐠, 𝐛𝐮𝐭 𝐭𝐡𝐞 𝐫𝐞𝐚𝐥 𝐬𝐡𝐢𝐟𝐭 𝐢𝐬 𝐢𝐧 𝐦𝐢𝐧𝐝𝐬𝐞𝐭.

In the latest interaction on , Abhay Agarwal highlights a key trend, investors are moving past short-term noise and focusing on opportunities for long-term wealth creation.

With improving sentiment after the recent correction, the strategy remains clear: stay disciplined, focus on fundamentally strong businesses, and use volatility to your advantage.

The outlook stays constructive with selective allocation, a positive view on cyclical recovery themes, and a cautious stance on sectors facing structural challenges.

Watch the full video here: https://www.youtube.com/live/fK7sUhgdL3Y



𝐷𝑖𝑠𝑐𝑙𝑎𝑖𝑚𝑒𝑟: 𝑇ℎ𝑖𝑠 𝑖𝑠 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑐𝑜𝑛𝑠𝑡𝑖𝑡𝑢𝑡𝑒 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑎𝑑𝑣𝑖𝑐𝑒. 𝑃𝑙𝑒𝑎𝑠𝑒 𝑐𝑜𝑛𝑠𝑢𝑙𝑡 𝑦𝑜𝑢𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑎𝑑𝑣𝑖𝑠𝑜𝑟 𝑏𝑒𝑓𝑜𝑟𝑒 𝑚𝑎𝑘𝑖𝑛𝑔 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑑𝑒𝑐𝑖𝑠𝑖𝑜𝑛𝑠.

15/04/2026

In a recent interaction on , Abhay Agarwal shared a clear message for investors navigating today’s uncertain markets:

𝐃𝐨𝐧’𝐭 𝐜𝐡𝐚𝐬𝐞 “𝐜𝐡𝐞𝐚𝐩”, 𝐜𝐡𝐚𝐬𝐞 𝐠𝐫𝐨𝐰𝐭𝐡.

While geopolitical tensions continue to weigh on sentiment, markets are gradually stabilizing. The real opportunity lies in identifying high-quality growth businesses, not beaten-down large caps that may turn into value traps.

Key themes to watch:
• Pharma innovation
• Semiconductors
• Electronics & auto components
• Defense electronics

“𝐓𝐡𝐞𝐫𝐞 𝐢𝐬 𝐚𝐥𝐰𝐚𝐲𝐬 𝐚 𝐛𝐮𝐥𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐨𝐦𝐞𝐰𝐡𝐞𝐫𝐞.”
The focus should be on finding it.

Watch the full video here: https://youtu.be/snrkehqLieo



𝐷𝑖𝑠𝑐𝑙𝑎𝑖𝑚𝑒𝑟: 𝑇ℎ𝑖𝑠 𝑖𝑠 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑛𝑜𝑡 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑎𝑑𝑣𝑖𝑐𝑒. 𝑃𝑙𝑒𝑎𝑠𝑒 𝑐𝑜𝑛𝑠𝑢𝑙𝑡 𝑦𝑜𝑢𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑎𝑑𝑣𝑖𝑠𝑜𝑟 𝑏𝑒𝑓𝑜𝑟𝑒 𝑚𝑎𝑘𝑖𝑛𝑔 𝑎𝑛𝑦 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑑𝑒𝑐𝑖𝑠𝑖𝑜𝑛𝑠.

As global markets struggle with "geopolitical tiredness," Abhay Agarwal, Managing Director of Piper Serica Advisors, joins Talking Point to explain why he is...