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Paytm's Vijay Shekhar Sharma launches maiden fund with target corpus of Rs 30 crore

Economic Times

Economic Times · 1y ago

Paytm's Vijay Shekhar Sharma launches maiden fund with target corpus of Rs 30 crore

Paytm's chairman, Vijay Shekhar Sharma, has launched a Rs 20 crore category-II alternative investment fund (AIF) called VSS Investments Fund, with an additional green shoe option of Rs 10 crore. The fund will focus on backing startups in new frontier technologies, including artificial intelligence (AI) and electric vehicles. Sharma is expected to be one of the primary contributors to the fund. The AIF will invest in Indian startups working on products and services for domestic customers, particularly in advanced technology and AI-driven innovations.

Related News

Paytm shares rise 7% as CEO to buy ₹5,195-crore stake from Antfin

ABPLive

ABPLive · 2y ago

Paytm shares rise 7% as CEO to buy ₹5,195-crore stake from Antfin

Paytm's stock surged by 7% in the morning hours of Monday. This follows the announcement that Paytm's CEO, Vijay Shekhar Sharma, will acquire a 10.30% stake in the company from Antfin (Netherlands) Holding BV for $628 million (₹5,195 crore). As a result of this deal, Sharma will surpass Antfin as the largest shareholder of Paytm. Remarkably, Paytm's shares have recorded an almost 50% increase year-to-date.

Early-stage investor 247VC floats maiden fund to invest in 30 startups

VCCircle

VCCircle · 3m ago

Early-stage investor 247VC floats maiden fund to invest in 30 startups

247VC, an early-stage investment firm founded by Yagnesh Sanghrajka and Shashank Randev, launched its maiden fund with a target corpus of Rs 200 crore and an additional Rs 50 crore option. It aims to invest in 30 seed-stage startups over the next three years, focusing on consumption, deeptech, enterprise technology, and industry 5.0. The fund has attracted marquee backers and plans to support high-potential founders across various sectors.

Paytm’s new target will be offering small instant credit: Vijay Shekhar Sharma

Economic Times

Economic Times · 1y ago

Paytm’s new target will be offering small instant credit: Vijay Shekhar Sharma

During Paytm's 23rd Annual General Meeting (AGM), CEO Vijay Shekhar Sharma announced the company's next focus: "small credit available instantly through the mobile phone." Sharma also highlighted the achievement of operating profitability in Fiscal 2023, nine months ahead of their target. The company's next goal is to become free cash flow positive and expand its distribution. Paytm aims to contribute to the availability of instant small credit through mobile devices.

Aikyam Capital marks first close of maiden special situation fund

VCCircle

VCCircle · 4m ago

Aikyam Capital marks first close of maiden special situation fund

Aikyam Capital Management, an Indian alternative investment firm, announced the first close of its Aikyam Capital Stressed Assets Fund I, a Category I Special Situation Fund, securing Rs 105 crore. With a target corpus of Rs 300 crore and a greenshoe option of Rs 200 crore, the fund aims for Rs 500 crore total. Founded by Nilesh and Navnit Choudhary, Aikyam focuses on distressed business investment across sectors, emphasizing operational support and restructuring.

Paytm Slumps 5% To Hit Lower Circuit; UBS Cuts Price Target

Inc42 · 1y ago

Paytm Slumps 5% To Hit Lower Circuit; UBS Cuts Price Target

Paytm's stock faced a downturn following the Reserve Bank of India's (RBI) restrictions on Paytm Payments Bank. Vijay Shekhar Sharma, the company's chairman, resigned, resulting in a 5% drop in Paytm's stock, now trading at INR 406.15. Foreign brokerage UBS has lowered Paytm's target price to INR 510 from INR 650, predicting increased marketing spend to regain lost customers and a potential permanent loss in business in FY25. The RBI's restrictions on Paytm Payments Bank include ceasing deposits, credit transactions, UPI facility, and other banking services.

Franklin Templeton marks first close of maiden India credit fund

VCCircle

VCCircle · 4m ago

Franklin Templeton marks first close of maiden India credit fund

Franklin Templeton’s alternative investment arm has announced the first close of its maiden India credit fund, Franklin India Credit AIF – Scheme I, raising Rs 205 crore ($24 million) towards a target corpus of Rs 1,000 crore and an additional Rs 2,000 crore greenshoe option. The fund aims for a 12-13% internal rate of return, investing in secured debt securities through instruments like mezzanine debt, targeting primarily financial services sector companies.

Paytm hit with second GST demand, total liability reaches Rs 8.66 Cr

YourStory

YourStory · 6m ago

Paytm hit with second GST demand, total liability reaches Rs 8.66 Cr

Paytm's parent company, One 97 Communications Limited, faces regulatory challenges with two recent tax demands from the CGST Department. The latest demand involves a Rs 7.47 crore liability for alleged wrongful input tax credit in FY 2017-18. A prior demand for Rs 1.19 crore pertains to non-compliance with tax invoice regulations for FY 2020-23. Despite penalties, including one on CEO Vijay Shekhar Sharma, Paytm plans to appeal, asserting the demands are not legally valid. Operations remain unaffected.

ValueQuest surpasses target corpus for maiden private equity fund

VCCircle

VCCircle · 1y ago

ValueQuest surpasses target corpus for maiden private equity fund

ValueQuest, a public market investor, has exceeded its target corpus for its first-ever private equity fund. The company has secured additional commitments for the fund, surpassing its initial goal. ValueQuest has previously invested in companies such as Waaree Energies, Sabine Hospital, and TBO Tek. The fund has raised approximately Rs 1,300 crore.

Paytm Founder Vijay Shekhar Sharma Laments His Choice Of Investment Bankers For IPO

Inc42 · 11m ago

Paytm Founder Vijay Shekhar Sharma Laments His Choice Of Investment Bankers For IPO

Paytm's Founder, Vijay Shekhar Sharma, expressed disappointment in the choice of bankers for the company's IPO. He also mentioned that the wealth generated from Paytm's IPO was limited to a few individuals, contrasting it with the widespread returns of Infosys' IPO. Paytm's share prices have dropped more than 65% from its initial offering price of INR 1,950.

Top VCs from Saama, Elevation settle Paytm disclosure lapse case with SEBI

VCCircle

VCCircle · 7m ago

Top VCs from Saama, Elevation settle Paytm disclosure lapse case with SEBI

Top executives from Saama Capital, Elevation Capital, and Venture Highway, as well as Shardul Amarchand Mangaldas & Co, settled with SEBI over misrepresentation in Paytm parent One97 Communications Ltd's IPO filings. SEBI issued notices to these executives for approving incomplete disclosures benefiting Paytm's founder Vijay Shekhar Sharma. Those involved, including Elevation Capital's Ravi Chandra Adusumalli and Saama Capital's Ashit Ranjit Lilani, paid Rs 3.32 crore. SEBI questioned founder Sharma's 'public shareholder' classification during the IPO.

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