ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?
  • Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Maruti Suzuki, Ashok Leyland: What makes brokerages bullish on these auto stocks?
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » Small Business News

Paytm Founder Vijay Shekhar Sharma turns anchor investor for Root Ventures; firm aims to raise Rs 200 cr fund

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Paytm Founder Vijay Shekhar Sharma turns anchor investor for Root Ventures; firm aims to raise Rs 200 cr fund
The company which is led by Japan Vyas, has taken onboard Paytm Founder Vijay Shekhar Sharma. Photo: PTI

On Wednesday, the alternative asset manager Root Ventures announced that it is on the brink of closing a Rs 200 cr maiden fund. For this, the company which is led by Japan Vyas, has taken onboard Paytm Founder Vijay Shekhar Sharma. Rs 200 crore maiden fund is expected to close over next 2-3 months. Additionally, the fund also has Rs 100 crore green shoe option which will allow the company to raise further capital if the option is fully subscribed. This comes as good news for startups, as the company plans to use the funds to invest in early-stage and growth-stage companies in India.

Founder Japan Vyas told PTI today, "We have already raised Rs 100 crore. We are in advance discussions with two fund of funds and a few family offices and expect to close the Rs 200-crore fund over the next 2-3 months. Paytm founder Vijay Shekhar Sharma is one of the anchor investors in our maiden fund."

Whereas, Paytm founder Vijay Shekhar Sharma said, "Japan is one of the few investors I know who have had a successful track record for more than a decade picking winners across his funds and business cycles. He is also one of the early shareholders in Paytm when he invested in us from his first fund at IDFC. I am happy to be an investor in his alternative investing platform."

Apart from Sharma, investors like Pravin Gandhi (Seedfund), Sandeep Kohli (ex-CEO of Yum International for the Indian subcontinent) and Kushal and Chaitanya Desai (Apar Industries) are also on board. 

In Root Ventures, the anchor investors and partners have together now contributed to some 20% of their targeted fund corpus. 

Vyas reportedly said, "We are a category-2 AIF (alternative investment fund). We will invest in early stage, growth and small, mid-listed investments... While we are sector-agnostic, we will have a bias towards consumer and consumer tech companies in our early-stage bucket."

From the corpus, Rs 6 crore is planned to be invested in early-stage ventures, while Rs 25 crore is rooted for growth-stage entities. 

Last year in November month, Vyas had announced their aim to raise maiden fund to the tune of Rs 300 crore. He had explained that, the early stage investments will invole smaller portion of the fund, however, in large part of the fund will be invested in companies who are unlisted private equity and pre-IPO stage.

Earlier, Vyas had set up alternative platform of IDFC Investment Advisors, later co-founded Sixth Sense Ventures. So far, Root Ventures have closed six investments which are coupled with sectors like consumer products, consumer tech and fintech. They are also in process for completing two more investments in segment like mobility and consumer space.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Vijay Shekhar SharmaPaytmPaytm investment
Written By: ZeeBiz WebTeam
Updated: Wed, Jun 26, 2019
04:55 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Exclusive: RBI order on IT audit, says Paytm’s Vijay Shekhar Sharma; dismisses reports of data leak; aggrieved with share price erosion, says MD & CEO Exclusive: RBI order on IT audit, says Paytm’s Vijay Shekhar Sharma; dismisses reports of data leak; aggrieved with share price erosion, says MD & CEO
Paytm Owner Success Story: Historic IPO! How son of Aligarh school teacher created India's one of most valued firms Paytm Owner Success Story: Historic IPO! How son of Aligarh school teacher created India's one of most valued firms
Paytm IPO: 45% of Rs 18,300 cr already secured - Anchor round makes it 8th largest private firm IPO in India Paytm IPO: 45% of Rs 18,300 cr already secured - Anchor round makes it 8th largest private firm IPO in India
Paytm's Rs 18,300-cr IPO: Top 10 things to know from Red Herring Prospectus Paytm's Rs 18,300-cr IPO: Top 10 things to know from Red Herring Prospectus
Success of Vijay Shekhar Sharma-led Paytm reaches US! Harvard team creating similar app for Americans Success of Vijay Shekhar Sharma-led Paytm reaches US! Harvard team creating similar app for Americans

LATEST NEWS

Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms

Dalal Street Corner: Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?

Stocks to Buy: Vikas Sethi recommends IDFC from F&O, Indo count from Cash Market; know why?

Stocks to Buy: Sanjiv Bhasin recommends Aarti Industries, Bank of Baroda, Tata Steel; Know the details

IBPS Clerk Recruitment 2022: Registration begins for 6000+ vacancies at ibps.in; check direct link, last date, how to apply online and more

Gold Price Today: Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily

Rupee VS Dollar: Rupee gains 12 paise to close at 78.94 against US dollar

PACL case: Deadline for investors to submit original investment documents extended till Aug 31

Crisil cuts FY23 GDP growth estimate to 7.3%

India's June factory growth at 9-month low as inflation worries bite

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV