After all, Paytm have the coolest and the most hardworking CEO, Vijay Shekhar Sharma who puts all his efforts in every walk of life, work, and his company's progress.
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After all, Paytm have the coolest and the most hardworking CEO, Vijay Shekhar Sharma who puts all his efforts in every walk of life, work, and his company's progress. On the occasion of the World Environment Day which held on June 5, he made an announcement about setting up a dedicated green fund called ‘Massive Fund’.
Massive Fund speaks about:
• Aims to invest $150 million to fund solutions for Green City, Clean Food, Carbonless Future, Reducing Plastic Pollution, Clean Energy, and Forest Restoration • Massive Fund will raise capital from Institutional and HNI investors • Introduces “GoMassive” incubator to work closely with SIFF, NRDC, IIT Delhi, IIM Lucknow and others to encourage indigenous innovation
New Delhi, June 6, 2018: UN Patron and Paytm Founder/CEO Vijay Shekhar Sharma along with Shailesh Vickram Singh* today pledged their support for environmental protection and announced the launch of the “Massive Fund” for India. It is country’s first, stage-agnostic, sector-focused and deep science fund which aims to target large problems being faced by humanity in the areas of food & agriculture, air & water pollution, renewable energy, recyclables like e-waste & plastic, mobility, and sustainable built environment.
This fund will undertake investments in startups, companies, and individuals working on the agenda of Pollution Reduction aligned with the United Nations Sustainable Development Goals. The fund aims to drive an investment of $150 million in these sectors over the next few years. It aims to build an ecosystem for reducing pollution by partnering with academia, R&D labs, mentors, professionals and venture funds across the country. Massive Fund will be raising capital from Institutional and High net-worth investors who are aligned with the objective of saving the environment.
This Fund has also formed an incubator called “GoMassive” which is working closely with leading educational and research institutions such as NRDC, IIT Delhi & IIM Lucknow and Sustainable India Finance Facility (SIFF). GoMassive is running boot camps and conducting hackathons across Delhi, Hyderabad, Mumbai & Bangalore to groom young startup teams to foster a spirit of green energy-led entrepreneurship.
Vijay Shekhar Sharma, Founder & CEO – Paytm said, “There is an urgent need for bringing in technological solutions for reducing the pollution. Through this initiative, we will provide adequate funding for innovations that can reduce air, water, and plastic pollution efficiently on the scale. The current generation owes it to the youngsters to leave behind a less polluted, healthier environment. We need the brightest funds and adequate capital/ 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.”
Shailesh Vickram Singh, Managing Partner – Massive Fund said, “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 & academia. We will also facilitate interactions with large industrial conglomerates to validate & utilize their new-age tech solutions. I strongly believe that ‘If we do not solve this now then when, and if not us then who?’”
Shailesh Vickram Singh is an entrepreneur and a venture capitalist with more than 20 years of experience. He has been associated with startups in tech space since early 1999. He is passionate about Tech, Agriculture, Income Inequality and Rural Poverty. Shailesh is a graduate in production engineering from GB Pant Univ of Agri & Tech, Uttarakhand and has worked in heavy engineering before doing his MBA from IIM Lucknow and shifting to tech startup space/investments.