Paytm CEO Vijay Shekhar Sharma Launches VSS Investments Fund For Indian Startups
Vijay Shekhar Sharma, founder and chief executive of One97 Communications, known for its flagship brand Paytm, has unveiled his inaugural VSS Investments Fund. This Category II Alternate Investment Fund (AIF) is set at a substantial Rs 20 crore, with an additional Rs 10 crore as a green shoe option.
The AIF is officially sanctioned by the Securities and Exchange Board of India (SEBI) and is designed to channel funds into companies rooted in India, actively engaged in crafting cutting-edge products and services tailored for the burgeoning domestic market. Vijay Shekhar Sharma, who is expected to be a key contributor to the fund, plans to synergise his considerable experience and resources to promote the growth of the Indian startup ecosystem.
With a specific focus on frontier technologies, the VSS Investments Fund is primed to support startups delving into artificial intelligence (AI) and electric vehicles (EVs). Sharma's keen interest in these sectors underscores his belief in the potential of Indian entrepreneurs to spearhead revolutionary advancements in these domains.
"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," said Sharma in a statement.
"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," he added.
