Vijay Shekhar Sharma, the founder and CEO of Paytm, has launched the ₹ 30-crore’ VSS Investments Fund’ for Indian artificial intelligence (AI) and electric vehicle (EV) startups.
This fund includes a Sebi-approved Category II Alternate Investment Fund (AIF) with an initial size of ₹20 crore and an optional ₹10 crore green-shoe provision, resulting in a total of ₹30 crore.
Vijay Shekhar Sharma, in a statement, mentioned that this fund will also support various follow-on investments in consumer and B2B tech startups.
Sharma has previously invested in several startups, including Ola Electric, GoQii, Daalchini, Treebo Hotels, Josh Talks, KWH Bikes, LeverageEdu, and KAWA Space.
He said, “The Indian startup 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.”
Vijay Shekhar Sharma intends to be one of the primary contributors to the fund alongside a select group of external investors. VSS Investco Private Limited, an entity owned and controlled by the Paytm founder, has sponsored the AIF.
Back in 2018, Sharma, along with venture capitalist Shailesh Vickram Singh of Seedfund, launched the ‘Massive Fund,’ a climate-focused initiative aiming to invest approximately $150 million in Indian startups addressing critical areas such as food, agriculture, air and water pollution, renewable energy, recyclables, and mobility.
