Vijay Shekhar Sharma, the esteemed founder and CEO of Paytm, has recently introduced the 'VSS Investments Fund' with a substantial corpus of ₹30 crores. This remarkable Category II Alternate Investment Fund (AIF), which has received approval from Sebi, initially stands at ₹20 crores, with the possibility of extending it by an additional ₹10 crores through a green-shoe option. This fund has been specifically created to support and nurture Indian startups in the exciting fields of artificial intelligence (AI) and electric vehicles (EV). Moreover, it will also facilitate further investments in a range of consumer and B2B tech ventures, as stated by the Paytm CEO.
Sharma's investment portfolio consists of impressive ventures such as Ola Electric, GoQii, Daalchini, Treebo Hotels, Josh Talks, KWH Bikes, LeverageEdu, and KAWA Space. He sees the Indian startup scene as a centre for talented entrepreneurs who have the capacity to excel in cutting-edge technology and AI-driven advancements. Sharma firmly believes that India's aspiration to become a $10 trillion self-sufficient economy relies heavily on innovation and entrepreneurship, particularly in the technology field.
The fund's main contributors will include Sharma himself, along with a few chosen external investors. The AIF is sponsored by VSS Investco Private Limited, which is an entity owned and supervised by the Paytm founder.
In 2018, Sharma partnered with venture capitalist Shailesh Vickram Singh of Seedfund to create the 'Massive Fund', with a focus on climate-related issues. The fund aimed to provide around $150 million to startups working on important areas such as food, agriculture, air and water pollution, renewable energy, recyclables, and mobility. This initiative reflects Sharma's dedication to encouraging inventive solutions for urgent global challenges.
In summary, it can be said that Vijay Shekhar Sharma's 'VSS Investments Fund' has the potential to greatly enhance the Indian startup ecosystem, specifically in the fields of AI and EV. His unwavering support for talented Indian entrepreneurs perfectly aligns with his belief that technology will play a crucial role in driving the country's progress towards self-sufficiency. This new endeavour builds upon his previous dedication to sustainable solutions through the 'Massive Fund', highlighting his diverse and innovative approach to business.
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