Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 06 2018

Paytm’s Vijay Shekhar Sharma and Shailesh Vickram Singh launch $150-mn environment protection fund

The Massive Fund will, primarily, look to make between 18-20 investments.

Paytm founder Vijay Shekhar Sharma and venture capitalist Shailesh Vickram Singh have partnered to launch a $150-million environment protection-focused fund.

The launch of the stage-agnostic, yet sector-focused Massive Fund is the second example of a notable entrepreneur and well-known venture capital investor coming together to launch a new investment vehicle, after UIDAI architect Nandan Nilekani and Helion Ventures cofounder Sanjeev Aggarwal launched their $100-million, consumer technology and software-focused fund The Fundamentum Partnership in July last year.

Massive Fund, which is a Sebi-registered category-II alternative investment fund, will have Sharma, founder of Paytm and one of India’s youngest billionaires, coming on board as a Limited Partner. However, Singh, who is an executive director with SeedFund, while confirming that Sharma was an anchor investor in the fund, did not, however, disclose, the latter’s exact contribution to the corpus.

“We are talking to a number of high net-worth individuals, including partners of well-known private equity funds and family offices… We are targeting announcing the first close by end-December. We have commitment visibility of $15-20 million so far,” Singh, who will also be managing the fund said.

The Massive Fund will, primarily, look to make between 18-20 investments. While it will largely place early-stage bets, the fund will also consider making mid- and growth-stage investments, depending on the opportunity.

“We will historically look to invest $2-4 million, but will also participate in the follow-on rounds, writing cheques up to $15 million,” Singh said.

The Delhi-based, deep science and deep IP-focused fund will undertake investments in startups, companies and individuals working on the agenda of pollution reduction aligned with the United Nations Sustainable Development Goals.

It will look to back ventures operating in green city, clean food, carbonless future, reducing plastic pollution, clean energy and forest restoration. It has identified about 10 ventures thus far that will undergo a 12-week bootcamp through its in-house incubator, GoMassive.

“There is an urgent need for bringing in technological solutions for reducing pollution. Through this initiative, we will provide adequate funding for innovations that can reduce air, water and plastic pollution efficiently on the scale,” Sharma said in a statement.

“The current generation owes it to the youngsters to leave behind a less polluted, healthier environment. We need the brightest funds and adequate capital and economic resources to tackle this massive problem of pollution that we are staring at,” he added. Sharma, who reportedly has a net worth of $1.73 billion, is already one of the country’s top angel investors, has backed a number of ventures, across sectors, including, Unacademy, GOQii and InnerChef, among others.

Comment
image
Related opportunities
  • Quick Service Restaurants
    About Us: Pizza is easily recognised food item in the world,..
    Locations looking for expansion Gujarat
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Career Counselling & Brain Programming
    About Us: Launched in 2013, Toppr, developed by Toppr Technologies Pvt..
    Locations looking for expansion Delhi
    Establishment year 2013
    Franchising Launch Date 2014
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    About Us: Chawlas Chicken(Chawla’s2) is one of the biggest North Indian..
    Locations looking for expansion Punjab
    Establishment year 1960
    Franchising Launch Date 1991
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ludhiana Punjab
  • Cosmetics & Beauty Product Stores
    About Us: Dr. Xavier's Gateway Hairfixing is the No.1 Hair fixing..
    Locations looking for expansion Delhi
    Establishment year 1994
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities