Aakrit Vaish, co-founder and former CEO of Jio Haptik, is launching a $75 million AI-focused venture fund named Activate, dedicated to backing early-stage innovators in artificial intelligence. The fund aims to write $2–4 million cheques for startups building AI applications and tools, marking one of the first dedicated AI-only funds in India. “Activate is designed as a dedicated AI fund,” Vaish said, highlighting its focus on catalyzing the next wave of innovation in the sector.
The fund has already signed its first term sheet and is in the process of securing approval from SEBI to operate as an Alternative Investment Fund (AIF). Activate has attracted a strong lineup of limited partners (LPs), including prominent names from the tech and startup ecosystem — General Catalyst, Aravind Srinivas of Perplexity, Vijay Shekhar Sharma of Paytm, Harsh Jain of Dream11, Sandeep Nailwal of Polygon, Ritesh Arora of Browserstack, Sharad Sanghi of Neysa, and Rajesh Jain of Netcore, along with several fund-of-funds and global founders.
Vaish is teaming up with Pratyush Choudhury, former Principal at Together Fund, who has evaluated and funded several AI platforms like Composio and Emergent. Choudhury is also the founder of one of India’s largest AI developer communities, boasting over 3,000 members. This gives Activate a front-row seat to the evolving AI ecosystem and deep insight into the challenges faced by AI builders.
Both Vaish and Choudhury bring operator-level experience to the table, positioning Activate as more than just a source of capital. The duo plans to actively support portfolio founders in scaling their businesses on top of foundational AI infrastructure. With AI adoption accelerating worldwide and investor interest surging, Activate’s launch comes at a pivotal moment for the industry.
Activate’s vision is to shape the future of AI innovation in India and beyond, empowering entrepreneurs who are building transformative products and platforms. As one of the earliest AI-only funds in the country, it is expected to play a critical role in fostering a thriving AI-first startup ecosystem
