Paytm CEO Sharma, venture capitalist Vickram unveil green fund

Paytm founder Vijay Shekhar Sharma. Photo: Pradeep Gaur/Mint

Paytm chief executive Vijay Shekhar Sharma and serial entrepreneur and venture capitalist Shailesh Vickram Singh, on Tuesday launched an environmental protection fund, which will look to invest in start-ups, companies, and individuals working to mitigate pollution-related problems in the country. The ‘Massive Fund’ will target environmental problems in the areas of food and agriculture, air and water pollution, renewable energy, recyclables such as e-waste and plastic, mobility, and sustainable development.

Investments made from the fund will be aligned with the United Nations Sustainable Development Goals.

The fund aims to invest up to $150 million in projects built by start-ups, companies and individuals over the next few years.

The fund also aims to build an ecosystem for reducing pollution by partnering with the academia, research and development labs, mentors, professionals and venture funds across the country.

Massive Fund will raise capital from institutional and high net-worth investors, with the objective of saving the environment.

The fund has also formed an incubator, called GoMassive, which will work closely with educational and research institutions such as NRDC, IIT-Delhi and IIM-Lucknow, besides Sustainable India Finance Facility (SIFF). GoMassive will run boot camps and hackathons across Delhi, Hyderabad, Mumbai and Bengaluru to mentor young start-ups.

According to Sharma, there is a lot of room 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 and on scale. We need the brightest funds, adequate capital and economic resources to tackle this massive problem of pollution that we are staring at. Our efforts, through this fund, will be to ensure that capital does not get in the way for innovative solutions to beating pollution,” he added.

“We aim to encourage young entrepreneurs to innovate and build solutions such as pesticide-free food, plastic removal, biodegradable packaging, CO2 absorption, pollution-free cities and sustainable housing, which are crucial for our well-being. We will support our portfolio companies with high-end R&D labs and take insights from research institutes, scientists and the academia. We will also facilitate interactions with large industrial conglomerates to validate and utilise their new-age tech solutions,” said Singh, managing partner, Massive Fund.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.