Paytm CEO & Founder, Vijay Shekhar Sharma, sets up Rs 30 cr fund to invest in AI and EV startups

Vijay Shekhar Sharma, the founder and CEO of Paytm, has unveiled a Category II Alternate Investment Fund (AIF) named ‘VSS Investments Fund’ with a total corpus of Rs 30 crore. This fund includes Rs 20 crore as its primary size, with an additional Rs 10 crore designated for the green shoe. Sponsored by VSS Investco Private Limited, an entity owned and controlled by Sharma, this sector-agnostic SEBI-approved Category II AIF is set to focus on investments related to Artificial Intelligence, environmental sustainability, and Indian-made technology, particularly in the realm of Electric Vehicle (EV) startups serving the domestic market. Vijay Shekhar Sharma is anticipated to be a significant contributor to the fund, alongside external investors who will also participate. The fund’s investment strategy centres on backing startups involved in Artificial Intelligence and Electric Vehicles, especially those incubated in India, with a clear orientation toward meeting the needs of Indian consumers and businesses. Vijay Shekhar Sharma expressed his optimism about India’s startup ecosystem, emphasizing the nation’s potential to emerge as a hub for advanced technology and AI-driven innovations. He stated, “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.” Sharma’s past investments have included notable startups such as Ola Electric, Josh Talks, Mesa School, UNNATI, KAWA Space, Praan, GOQii, KWH Bikes, Daalchini, and Treebo Hotels. This new fund represents his commitment to nurturing the next generation of Indian entrepreneurs and fostering innovation in the technology sector.