VC firm GVFL announces first closure of its 9th fund of Rs. 500 Cr.

Gujarat based Venture Capital firm GVFL has announced first close at Rs. 185 Cr. for its 9th fund of corpus 500 Cr. to invest in emerging technology Startups. First closure of the fund allows the VC firm to deploy capital in Startups.

The Category-II Alternate Investment Fund (AIF) has received approval from the Securities and Exchange Board of India (SEBI).

The entrepreneurs are disrupting traditional business models across the sectors with tech-driven business models. These entrepreneurs are supported by an active angel investors ecosystem and by venture capitalist having a large pool of capital. Government also has been a keen enabler for the growth of Startups ecosystem in the country.

In the last 3 years, the Startup activity has grown exponentially. We believe that in the next 5 years, this ecosystem will grow manifolds.

As the technology has emerged to be the key enabler to success, GVFL Limited’s new fund will seek to invest in technology driven Startups such as Edtech, HealthTech, AgriTech, BioTech, Consumer Business etc.

The VC firm aims to support Govt. initiatives like Startup India and Aatmanirbhar Bharat to strengthen the entrepreneurial ecosystem.

The firm had launched their 8th fund, GVFL Startup fund in 2016. The fund invested in 13 Startups including Frazzo, Sequretek, Pet Pooja, Qarmatek and others.

Over the last three decades, GVFL has supported 96 companies with their 8 funds. GVFL is one of the very few domestic VC firms in the country who have multiple full lifecycle experience.

GVFL plays a pivotal role in the grooming of entrepreneurs and translating the idea into a viable business model by providing equity investments at seed/early stage along with hand holding support.

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