Vijay Shekhar Sharma, founder of India’s flagship fintech company Paytm, has partnered with Japan Vyas promoted Roots Ventures. In an interaction with NFAPost, Vijay Shekhar Sharma said he joined Roots Ventures first fund as an anchor investor.
“I am happy to be part of alternative asset management firm Roots Ventures. We expect this will help Indian start-up ecosystem to flourish further,” said said – Vijay Shekhar Sharma.
Japan Vyas and IDFC’s Ravinder Vashist formed Roots Ventures in 2018 as part of their larger investment strategy. Vyas had taken shares in Paytm when the company started operation more than 10 years back. He availed money from the first fund at IDFC
According to investment analysts, Roots Ventures is expected to raise around Rs 200 crore for the fund and further will increase its investment capacity by raising Rs 100 crore more. The fund’s other investment partners are Seedfund General Partner Pravin Gandhi, Chaitanya Desai and Kushal from Apar Industries Pvt Ltd and former head of Yum International Sandeep Kohli.
Roots Ventures hopes to close the fund mop up within two to 3 months time. The company is concluding its discussions with 2 fund-of-funds. The investment company has made 6 investments in the consumer tech, consumer products and fintech sectors. It is in advanced talks to seal two more deals in the mobility and consumer segments.
Roots Ventures expects to close the fundraise in the next two to three months’ time. It is in advanced discussions with two fund-of-funds. Vijay Shekhar Sharma along with entrepreneur and venture capitalist Shailesh Vickram Singh launched a $150 m environment protection fund in June last year.
Paytm founder began One97 Mobility Fund along with SAIF Partners for early-stage technology investment. It invests upto $5 million in these companies.As per public information, One97 Mobility Fund has put money in over 12 tech companies in India, Indonesia, Singapore and Scotland. Besides making direct investments in his personal capacity, Vijay Shekhar Sharma is an investor in early-stage venture capital 15 firm India Quotient’s debut fund.