Silicon Road Ventures (SRV), a leading commerce technology-focused VC, has signed an agreement with Ajay Mahajan for launching a new Alternative Investment Fund (AIF). The fund is developed specifically to target early-stage start-ups working on solutions based on the Agentic Artificial Intelligence (AI) sector, within the Business-to-Business (B2B) commerce technology space.

The fund has a corpus of ₹150 crore. It makes it a major investment in the domain of future intelligent enterprise tools. The project has already taken a significant leap forward with its successful Category-II registration by the Securities and Exchange Board of India (SEBI), setting the stage for the start of the investment phase in a timely manner.

Primary objective and partnership

The primary objective of this new AIF is to discover and support startups that are going beyond the automation phase to agentic AI. The fund will be focused on the solutions to address critical operational challenges across the commerce value chain, said Ajay Mahajan. Multi-channel commerce, where companies sell through multiple channels, and complicated supply chains and logistics are both subjects of key focus. The fund aims to invest in fintech products and services that ease B2B transactions and tackle consumer insight and retail efficiency. 

The fund’s emphasis on agentic AI helps to support technologies that can reason, plan, and execute tasks independently, delivering greater efficiency and intelligence to B2B businesses. There is a strong focus on this theme because of the new trend in the tech industry – artificial intelligence is no longer a passive tool, but an active agent managing complex business processes. 

The partnership is driven by the idea that the Indian start-up ecosystem is fertile with AI founders who can create globally competitive solutions for the Retail and e-commerce space. The fund aims to be a catalyst for these early-stage ventures, taking them from early product development to market-ready solutions for domestic and international B2B clients.

Foundation and leadership

Sid Mukherjee established Silicon Road Ventures in 2019, and the firm quickly gained recognition as a leading firm in early rounds, usually at the Seed to Series A stage. The firm has a fairly defined mandate to invest in commerce technology, covering Retail, e-commerce, and Consumer Packaged Goods (CPG).

SRV has already invested in over 46 technologies, with a proven track record of spotting new developments in the areas of fintech and supply chain management. One of the unique aspects of the firm’s strategy is its involvement with academic institutions. Sid Mukherjee’s earlier efforts have involved setting up funds at his alma mater, BITS Pilani, and Kennesaw State University to provide a lifeline and non-dilutive funding to student-led startups.

The leadership that’s up there has a wealth of industry knowledge. Sid Mukherjee previously served as co-founder and CEO of Software Paradigms International (SPI), a technology solutions provider specializing in the retail space. Since this success, the company was acquired by the IT services giant Cognizant in 2018. 

SRV has a unique background in building and scaling a retail technology business that enables it to assess the real-world usefulness and market appeal of innovative AI commerce solutions. The collaboration with Ajay Mahajan brings the firm’s expertise to the table when dealing with investment opportunities in India and assisting high-growth AI startups.

Conclusion

The launch of Silicon Road Ventures (SRV) AI-themed fund with an investment of ₹150 crore by Ajay Mahajan, CEO of SRV, is an important development in the Indian Venture capital space in the deep tech and B2B space. The aim of targeting agentic systems reflects the strategic choice to invest in the most innovative and cutting-edge aspects of artificial intelligence, aimed at changing the way these retailers and supply-chain businesses function.

The AIF is well-positioned to develop the next generation of commercial technology entrepreneurs, thanks to SEBI’s Category II registration and a leadership team with an extensive entrepreneurial and investment history. The innovations supported by this investment partnership are expected to shape the future of efficient and AI-powered B2B commerce as the retail and e-commerce sectors become even more digitalized.