In a bid to bolster the Artificial Intelligence (AI) and Electric Vehicle (EV) startup ecosystem in India, Paytm’s driving force, Vijay Shekhar Sharma, has rolled out the ‘VSS Investments Fund‘, a ₹30-crore venture.
The fund, backed by a Category II Alternate Investment Fund (AIF) stamp of approval from the Securities and Exchange Board of India (SEBI), kicks off with a base value of ₹20 crore. A flexible ‘green-shoe’ clause enables the inclusion of an additional ₹10 crore, rounding up the fund’s total value.
Sharma’s commitment extends beyond new investment ventures. The fund also targets his ongoing engagements in the consumer and B2B tech sectors. Companies like Ola Electric, GoQii, Daalchini, and KAWA Space have previously reaped the benefits of Sharma’s backing.
Speaking about India’s entrepreneurial future, Sharma expressed, “With world-class talent, India’s startup terrain is a goldmine for tech and AI innovations. As we envision a $10 trillion self-sustaining economy, innovation and entrepreneurial energy will be our cornerstones. This fund exemplifies my confidence in India’s young founders and the overarching influence of technology in the nation’s progression.”
While Sharma is set to be the main investor, a curated set of external patrons will also contribute to the fund. VSS Investco Private Limited, a company steered by Sharma, is the chief sponsor of this AIF initiative.
A rewind to 2018 brings up Sharma’s ‘Massive Fund’ – a collaborative venture with venture capitalist Shailesh Vickram Singh. With an earmarked $150 million, this eco-centric fund targeted startups dedicated to sustainability, clean energy, and innovative transportation solutions.
