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.