The founder of Alipay Paytm in India launched a 300 million rupee fund to bet on AI and electric cars

CTOnews.com, October 23, according to Bloomberg, Vijay Shekhar Sharma, founder of Alipay Paytm in India, launched an investment fund "VSS Investments Fund" with an initial size of 200 million rupees (CTOnews.com Note: currently about 17.62 million yuan) and green shoes (the green shoes mechanism can stabilize the stock prices after the listing of large-cap stocks and prevent excessive fluctuations) of 100 million rupees (currently about 26.43 million yuan).

The fund is sponsored by VSS Investco, an entity owned and controlled by Sharma. Other outside investors will also participate in the fund and will be actively managed by professional investment managers. The new fund will invest in AI and EV-related start-ups that hatch in India and specialize in serving Indian consumers and companies.

Various follow-up investments in Sharma's current start-up investments in consumer and B2B technology will also come from the fund. As an angel investor, Sharma has invested in a number of startups, including Ola Electric, Josh Talks, Mesa School, Unnati, Kawa Space, Praan, GOQii, KWH Bikes, Daalchini and Treebo Hotels.

"India's entrepreneurial ecosystem has some of the smartest entrepreneurs in the world, and we have the potential to become a power of advanced technology and artificial intelligence-driven innovation.... the launch of the fund continues my belief in supporting young people and young people." "these are promising Indian founders who are consistent with the fact that technology plays a huge role in the development of the country," Sharma said.