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As announced by Honourable Chief
Minister, Shri. Narendra Modi in BIO-Gujarat, Government of
Gujarat has launched the Gujarat Biotechnology Venture Fund
at the initiative of Gujarat State Biotechnology Mission. This
fund would be managed by GVFL Limited.
Government of Gujarat has provided funding of Rs. 100 million,
Zydus Cadilla has contributed 5 Million and GVFL has contributed
0.5 million to the fund.
About the Fund
GBVF is a 12-year close-ended fund with a target corpus of Rs.
500 million. The Fund’s objective is to deliver outstanding
returns to its investors through an investment strategy built
upon leveraging GVFL ‘s experience throughout the investment
cycle.
The Fund would identify start-ups, early stage and existing
companies in the areas of biotechnology having potential to
become leading players in India or be acquired by multinational
companies or in synergy with corporate investors of the Fund.
Some of the potential areas for investment are, but certainly
not limited to, Biopharma, Agri- Biotech, Contract Research
and Industrial Biotechnology.
Eminent industry people like Dr. K.K.Tripathi, Adviser, Department
of Biotechnology, Government of India, and Dr. Harish Padh,
Director of PERD are expert members of the Investment Board
of the Fund.
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Prospective Investors of Biotech Fund
The participants in the proposed fund could be:
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State Government |
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Institutional investors |
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Banks |
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Corporate Entities |
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High Networth Individuals etc. |
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Portfolio |
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Celestial Biological
Pvt. Ltd.
(plasma fractionation process) |
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Century Pharmaceuticals Ltd.
(Biotechnology segment of the company is a new line of
potential treatment for allergy and asthma) |
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Amrita Therapeutics
(R&D for designing bacterial products to defend human
body against more than one disease) |
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Aura Herbal wear
(Manufacturing and marketing of Herbal Textile products.
It uses organic dye and organic cotton) |
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Status |
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The fund is in investment stage with Rs 25.32 million redeemed
to the investors. |
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