Paytm founder and CEO Vijay Shekhar Sharma launched a Category II Alternate Investment Fund (AIF) ‘VSS Investments Fund’. The total size of the SEBI-approved AIF scheme is Rs 20 crore with a green shoe of Rs 10 Crore, making the total corpus Rs 30 Crore.
The fund will target artificial intelligence and electric vehicles-related start-ups, that are incubated in India and are specially focused on serving Indian consumers and businesses.
Furthermore, various follow-on investments of Sharma’s current start-up investments in consumer and B2B tech space will also come from this fund. In the past, he has also focused on investing in start-ups driving sustainability and air quality improvement.
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Sharma will be a key fund contributor, alongside external investors. The Alternative Investment Fund (AIF) is sponsored by his entity, VSS Investco Private Limited, and it will be under the active management of a professional investment manager, as stated in the company's official statement.
Vijay Shekhar Sharma, founder and CEO of Paytm said, “The Indian start-up ecosystem has some of the brightest entrepreneurs in the world, and we have the potential to become a powerhouse of advanced technology and AI-driven innovations. India's aspiration to be a $10 Trillion Atmanirbhar economy will be defined by the spirit of innovation and entrepreneurship. The launch of this fund is a continuation of my belief in supporting young and promising Indian founders, aligned with the fact that technology has a huge role to play in the development of the country.”
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Sharma has been a proactive investor across diverse sectors, with a significant focus on technology-driven innovations. He has provided support to numerous startups, with notable investments in companies such as Ola Electric, Josh Talks, Mesa School, UNNATI, KAWA Space, Praan, GOQii, KWH Bikes, Daalchini, and Treebo Hotels.
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