Roots Ventures expects to close the fund in December with a corpus of Rs 200 crore, according to Founder Japan Vyas. It plans to invest in "direct-to-consumer" brands that provide natural and organic categories, plant-based protein, and healthy beverages.
Paytm Founder and CEO Vijay Shekhar Sharma said he has doubled his commitment for an investment fund being set up by alternative asset manager Roots Ventures."I am happy to increase my investment with Vyas and the team at Roots Ventures who have an investing track record of picking winners across business cycles over more than a decade," Vijay Shekhar Sharma said.
Vyas said it was a matter of pride and continuing responsibility when existing investors increased their commitment to the fund. "It reinforces our belief that we are on the right track. I am thankful to Sharma for having doubled his commitment to the fund bang in the middle of a pandemic," Vyas said.