Early-stage fund pi Ventures raises Rs 100 crore from Sidbi’s startup fund

Early-stage venture capital fund pi Ventures on Wednesday said it has received a commitment of Rs 100 crore (about $12.2 million) for its second fund from Small Industries Development Bank of India’s (Sidbi) equity scheme Fund of Funds for Startups (FFS).

The fresh capital is about 2.5 times what Sidbi’s FFS had invested in the first fund, the statement added.