Gift to AI Startups Get a Gift of VSS Investment Fund
Initiated by Paytm CEO and co-founder Vijay Shekhar Sharma, the ‘VSS Investments Fund’ is a Category II Alternate Investment Fund (AIF). There is an extra green shoe option of 10 crore, bringing the total amount of the fund to 20 crore.
This brand-spanking-new fund was set up specifically to put money into Indian companies working on AI and EVs. These firms will be nurtured in India with an eye on meeting the demands of Indian consumers and corporations.
Sharma made a statement to the media praising the Indian startup environment, which he said was home to some of the world’s best entrepreneurs. He said India has the potential to become a center for cutting-edge research and artificial intelligence-inspired developments.
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AI-driven breakthroughs
Paytm has the potential to become a powerhouse of cutting-edge technology and AI-driven breakthroughs, and the Indian startup ecosystem is home to some of the world’s best entrepreneurs. The spirit of invention and entrepreneurship will characterize India’s ambition to become a $10 trillion Atmanirbhar economy, he said in a media release.
Sharma’s prior investments include Ola Electric, Josh Talks, Mesa School, UNNATI, KAWA Space, Praan, GOQii, KWH Bikes, Daalchini, and Treebo Hotels, among others. According to the release, the ‘VSS Investments Fund’ would also allow for additional investments in Sharma’s existing startup holdings in the consumer and B2B technology sectors.
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