Silicon Road Ventures (SRV), a US-based venture capital fund, has teamed up with Ajay Mahajan, the former managing director of Bank of America India, to establish a new alternative investment fund (AIF) worth ₹150 crore. This fund is dedicated to investing in early-stage startups focused on developing agentic AI solutions specifically for the B2B commerce technology sector.
The fund will target innovations in various areas, including:
- Multi-channel commerce
- Supply chain and logistics
- Fintech
- Consumer insights
- Retail operations
With a category-II registration from SEBI, this AIF aims to support the growth of businesses leveraging AI to enhance operational efficiency and customer engagement.
Background of Silicon Road Ventures
Founded in 2019 by Sid Mukherjee, SRV has already backed over 30 startups. Mukherjee previously co-founded and served as CEO of Software Paradigms International (SPI), a technology solutions provider for retail, which was acquired by Cognizant in 2018.
Why It Matters
This fund represents a significant opportunity for early-stage companies in the burgeoning field of agentic AI, particularly as businesses increasingly seek to automate and optimize their operations.
Next Steps for Startups
Startups interested in seeking investment from this fund should prepare to demonstrate innovative applications of AI in their business models, particularly in the areas outlined above.
