Silicon Road Ventures, Ajay Mahajan launch Rs 150-crore AI-focused startup fund

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, ET BureauLast Updated: May 13, 2026, 07:27:00 AM IST

Synopsis

US venture capital fund Silicon Road Ventures has partnered with former Bank of America India MD Ajay Mahajan to launch a Rs 150-crore alternative investment fund. This fund will invest in early-stage startups developing Agentic AI solutions for B2B commerce technology, focusing on areas like supply chain and fintech.

MUMBAI: The 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 creating 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 co-founder 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.

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