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GVFL Ltd. (formerly Gujarat Venture
Finance Limited) is widely regarded as the pioneer of venture
capital in India. It is an independent, board-managed, autonomous
venture finance company based at Ahmedabad, Gujarat (India).
Started in 1990 at a World Bank initiative under the aegis of
Gujarat Industrial and Investment Corporation (GIIC), GVFL Ltd.
is a ‘classical’ venture capital company focused
on funding small and medium technology-based enterprises.
Over the past 18 years, GVFL Ltd. has raised six Venture Capital
Funds with a cumulative corpus of Rs. 2041.70 million. It is
currently in the process of raising a SME Fund worth Rs. 2500
million of which Rs. 600 million has already been raised and
the first closure of the fund has been declared. These funds
are invested in 66 companies across the country, which are systematically
provided financial and managerial support by GVFL Ltd. Today,
The company has divested from 55 out of 66 investee companies.
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