SRV, Ajay Mahajan Launch INR 150 Cr AI Fund; InCred Capital Acquires S Cube Capital

SRV Partners Ajay Mahajan to Launch INR 150 Cr AI-Focused Fund

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 B2B commerce technology. The fund, with a corpus of INR 150 crore, has received Category-II registration from the SEBI.

The AIF will invest in startups working across areas such as multi-channel commerce, supply chain and logistics, fintech, consumer insights, and retail operations. 

Founded in 2019 by Sid Mukherjee, SRV is an early-stage venture capital firm that invests from Seed to Series A across commerce technology sectors, including retail, e-commerce, and consumer packaged goods. The firm has made over 46 investments so far.

Mukherjee has also launched initiatives with institutions such as BITS Pilani and Kennesaw State University to support student-led startups. Prior to SRV, he co-founded Software Paradigms International, which was acquired by Cognizant in 2018.

InCred Capital Acquires Singapore-Based Fund Manager S Cube Capital

InCred Capital, the institutional, wealth and asset management arm of the InCred Group, has announced the integration of Singapore-based S Cube Capital into InCred Global Wealth Pte, subject to regulatory approvals. The move is aimed at strengthening the firm’s offshore investment platform and expanding its global offerings.

The acquisition will add regulated fund vehicles to InCred’s Singapore platform, enhancing its product suite for international clients. It also builds on the firm’s earlier acquisition of Arrow Capital DIFC, further strengthening its presence across the Singapore-GCC-India investment corridor.

S Cube Capital, regulated by the Monetary Authority of Singapore (MAS), brings institutional investment expertise with a focus on local markets and global networks. As part of the deal, Balaji Swaminathan and Hemant Mishr will join InCred Global Wealth as Joint Vice Chairmen of its global asset management business.

InCred Capital operates across India, Singapore, Dubai and London, managing over INR 1 lakh crore in wealth assets and around INR 10,000 crore in asset management assets.