New Delhi, Venture capital firm GVFL on Wednesday announced the first closing of its seed-stage fund – Starts, which has a corpus of Rs 200 crore.
The Ahmedabad-based firm said it aims to deploy the funds with the next investment of Rs 1-3 crore in 25-30 promising technology startups across B2B SaaS, SaaS, Health Tech, AgriTech, Climate Tech and Deep Tech. one year.
“The Startup Fund will ensure the availability of a seamless funding pathway for startups from seed to growth stage. We believe that providing pre-revenue and capital support to early-stage startups will position GVFL as a comprehensive venture capital firm. Will be established in a form that is capable of supporting companies at all stages of their growth,” said Kamal Bansal, Managing Director, GVFL.
Formerly Gujarat Venture Finance Limited, GVFL has raised nine funds so far, which have backed over 110 companies and disinvested over 75 per cent of the portfolio companies.
“GVFL has a strong track record of investing in early-stage companies and has invested over Rs 150 crore in the last 18 months through its Emerging Enterprise Venture Fund, a Rs 500 crore fund.
Mihir Joshi, Chairman, GVFL, said, “The first close of Startup reflects our commitment to nurture startups at the beginning of their life cycle and provide them the resources required to reach maturity level.”
The Ahmedabad-based firm said it aims to deploy the funds with the next investment of Rs 1-3 crore in 25-30 promising technology startups across B2B SaaS, SaaS, Health Tech, AgriTech, Climate Tech and Deep Tech. one year.
“The Startup Fund will ensure the availability of a seamless funding pathway for startups from seed to growth stage. We believe that providing pre-revenue and capital support to early-stage startups will position GVFL as a comprehensive venture capital firm. Will be established in a form that is capable of supporting companies at all stages of their growth,” said Kamal Bansal, Managing Director, GVFL.
Formerly Gujarat Venture Finance Limited, GVFL has raised nine funds so far, which have backed over 110 companies and disinvested over 75 per cent of the portfolio companies.
“GVFL has a strong track record of investing in early-stage companies and has invested over Rs 150 crore in the last 18 months through its Emerging Enterprise Venture Fund, a Rs 500 crore fund.
Mihir Joshi, Chairman, GVFL, said, “The first close of Startup reflects our commitment to nurture startups at the beginning of their life cycle and provide them the resources required to reach maturity level.”
