British International Investment

pi Ventures Fund I

IndiaSouth AsiaCommunications & IT servicesConsumer - HealthManufacturing

pi Ventures Fund I is a venture capital fund specializing in early stage and startup investments.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

In 2018 CDC made a commitment of $5.84 million to pi Ventures.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

The fund will invest in businesses that use artifical intelligence (AI) and machine learning (ML) technologies to help solve problems at scale. The unique characteristics of India such as large population base, scarce quality resources and mass tech adoption, enable such technologies to be disruptive. For example, in healthcare, AI is helping close the gap between the small number of skilled health technicians and the mass demand for cost effective diagnostic services.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    January 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D2741
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    South Asia
    Country

    The countries from which we derive the value of our investment. Where value is derived from multiple countries, this is indicated.

    :
    India
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Communications & IT services, Consumer - Health, Manufacturing

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Fund
    Start date :
    July 2018
    Amount :
    $5.84m
    Currency of investment :
    INR
    Fund Manager:
    pi Partners LLP
    Domicile

    The company or investment fund’s place of incorporation.

    :
    India
    2X Gender Finance

    Indicates whether the investment is ‘2X qualified’ using the 2X Challenge criteria. You can find out more here. It only applies to investments made from 2018 onwards, when the 2X Challenge was first launched.

    :
    Fully qualified

Investments made by this fund into companies:

For further information about these companies, visit https://www.piventures.in/

Investment name Country Region Sector Start date Status
Abee Research Labs (P) Lts (SwitchOn) India South Asia Communications & IT services May 2019 Active
Agnikul Cosmos Private Ltd India South Asia Manufacturing March 2020 Active
AIPalette PTE Ltd India South Asia Communications & IT services July 2021 Active
Aiquire Inc (Pyxis) India South Asia Communications & IT services November 2020 Active
Insanefit Technologies Pvt Ltd India South Asia Communications & IT services July 2021 Active
Mara Labs India South Asia Communications & IT services March 2018 Active
Niramai Health Analytix Private Limited India South Asia Consumer - Health March 2017 Active
Promoto Software Private Limited India South Asia Communications & IT services February 2018 Exited
Sabstone Ltd (Oweme) India South Asia Communications & IT services October 2018 Exited
Sigtuple Technologies Private Limited India South Asia Consumer - Health January 2017 Active
Ten3T Healthcare Private Limited India South Asia Consumer - Health December 2016 Active
Touchkin eServices Private Limited India South Asia Communications & IT services June 2019 Active
Vidurama Inc (Frontdesk) India South Asia Communications & IT services February 2019 Active
Wavicle Technologies Private Limited India South Asia Communications & IT services September 2022 Active
Zenatix Solutions Private Limited India South Asia Communications & IT services January 2017 Exited

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