Silicon Road Ventures (SRV) has partnered with Ajay Mahajan to launch a new alternative investment fund (AIF) focused on early stage startups building agentic AI solutions for the B2B commerce technology sector.
The fund, which has received Category-II registration from the Securities and Exchange Board of India (SEBI), will operate with a corpus of ₹150 crore.
According to Mahajan, the fund will back startups developing AI-driven solutions across areas such as multi-channel commerce, supply chain and logistics, fintech, retail operations, and consumer insights.
Founded in 2019 by Sid Mukherjee, Silicon Road Ventures specialises in early stage investments spanning seed to Series A stages, with a strong focus on commerce technology startups.
The venture capital firm has made more than 46 investments across sectors including retail technology, e-commerce infrastructure, fintech, supply chain solutions, and artificial intelligence.
SRV also collaborates with academic institutions to support innovation-led entrepreneurship. Mukherjee has previously partnered with BITS Pilani and Kennesaw State University to create a fund providing non-dilutive capital support to student founded startups.
Before launching SRV, Mukherjee co-founded and led Software Paradigms International (SPI), a retail technology solutions company that was later acquired by Cognizant in 2018.
The launch of the new AI-focused fund reflects growing investor interest in agentic AI and enterprise automation technologies, particularly solutions capable of improving operational efficiency and decision making in commerce and retail ecosystems.
The move also comes amid rising venture capital activity in India’s artificial intelligence sector, where investors are increasingly backing startups building AI-native enterprise infrastructure and workflow automation platforms.