Anil Ambani-controlled Reliance Capital Ltd has sold its nearly 1% stake in digital wallet company Paytm for INR 275 crore ($41 million) to China’s Alibaba Group. The deal, which values Paytm’s marketplace business at $1 billion, will increase the stake of Alibaba and its affiliate Ant Financial (the parent company of Alipay) in Paytm E-Commerce from the current 40% to 62%.

Early-stage venture fund pi Ventures has announced the first close of its maiden fund at $13 million, with technology entrepreneurs such as former Infosys CFO and Aarin Capital chairman TV Mohandas Pai, Flipkart’s Binny Bansal, MakeMyTrip’s Deep Kalra and Info Edge’s Sanjeev Bikchandani, and angel investor Bhupen Shah, backing it, among others. The fund, which will back early-stage startups that “focus on solving problems in healthcare, logistics, retail, fin-tech and enterprise sectors using artificial intelligence, machine learning and Internet of things”, plans to invest in 18-20 ventures over 3-4 years.

Global impact investor Accion International has raised a $141 million fintech fund to invest in companies that offer access to financial services to underserved consumers and businesses in emerging markets, including Asia. Accion Frontier Inclusion Fund will be managed by Quona Capital, a venture capital firm that supports fintech firms in emerging markets.