US-based venture capital fund Silicon Road Ventures (SRV) has partnered with former Bank of America India managing director Ajay Mahajan to form an alternative investment fund (AIF) to invest in early-stage startups building agentic AI solutions in the B2B commerce technology space.
Such solutions would focus on businesses like multi-channel commerce, supply chain and logistics, fintech, consumer insights and retail operations, said Mahajan. The AIF, with a Rs 150-crore corpus, has received category-II registration from Sebi.
The Atlanta-headquartered SRV was founded in 2019 by Sid Mukherjee who has also set up a fund with BITS Pilani, his alma mater, and Kennesaw State University to offer non-dilutive funding to companies founded by students of the respective universities.
SRV has till now backed over 30 startups. Prior to that, Sid was cofounder and CEO of Software Paradigms International (SPI), a company that provided technology solutions to retail businesses. SPI was acquired by IT giant Cognizant in 2018.