General Catalyst, Aravind Srinivas of Perplexity, Vijay Shekhar Sharma of Paytm, Harsh Jain of Dream 11, 360 One, Sandeep Nailwal of Polygon, Ritesh Arora of Browserstack, Sharad Sanghi of Neysa and Rajesh Jain of Netcore are among the notable limited partners (LPs) of the fund.
The fund will be also be sponsored by other fund of funds (FoFs) and global founders, sources added.
The fund is already in the advanced stages and is in the process of obtaining SEBI’s approval to operate as an Alternative Investment Fund (AIF).
Activate will, on average, sign $2-4 million cheques. “It has already signed its first term sheet,” a second person cited above said.
“An amount in that range is the average needed for a team to build on the application or the tooling layer,” the person added.
Vaish did not reply to Moneycontrol’s request for comments.
For Activate, which will be among the first few AI-only funds, Vaish is partnering with Pratyush Choudhury, former Principal at Together Fund. In the past, Choudhury had evaluated and funded Composio, an agentic AI platform and Emergent, an agentic vibe coding platform. At Together Fund, he closely worked with SaaS and AI founders to help them scale operations.
Both Vaish and Choudhury have operated as operators in the past and are now returning as investors to help founders flex their muscles on top of the infa layer.
Choudhury also has a ringside view of the AI ecosystem as he runs one of the largest AI developer communities, with over 3,000 members, in India and other regions.
Content Courtesy – Money Control
