Gujarat Venture Finance Limited (GVFL) has marked a significant milestone with the first close of its Prarambh Fund at Rs 100 crore, out of a total corpus of Rs 200 crore. This new fund is poised to invigorate the startup ecosystem, particularly targeting early-stage ventures in diverse tech sectors.
GVFL, renowned for its role in nurturing entrepreneurial ventures, plans to channel these funds into 25-30 seed-stage startups within the year. The Prarambh Fund will specifically focus on sectors such as B2B SaaS, health tech, agritech, climate tech, and deep tech, providing crucial investments ranging from Rs 1 crore to Rs 3 crore per startup.
Established as an independent venture finance entity, GVFL boasts a robust track record with nine funds launched to date. These funds have supported over 110 companies, with successful exits from more than 75% of its portfolio, delivering substantial returns to its investors.
In addition to financial backing, GVFL enhances its support through a co-investment platform named a4X.fund (accelerate for excellence). This platform not only offers capital but also extends strategic resources such as acceleration services, mentorship, and industry partnerships, facilitating the growth trajectory of seed-stage companies.
GVFL’s initiative comes at a pivotal time for the startup ecosystem, aligning with its commitment to fostering innovation and entrepreneurial spirit across India. The Prarambh Fund’s successful first close underscores GVFL’s position as a key player in driving early-stage investments, poised to catalyze the next wave of tech-driven advancements in the country.
