TLDR:
- GVFL’s Prarambh Fund achieves first close at Rs 100 Crore
- Fund will focus on tech startups in sectors such as B2B SaaS, Health, Agritech, Climate Tech, and deep tech
Ahmedabad-based venture capital firm GVFL has announced the first close of its new Seed Stage fund, Prarambh Fund, reaching Rs 100 crores out of a total corpus of Rs 200 crores. The fund will be deployed in 25-30 promising seed startups in various sectors, with a focus on tech startups in B2B SaaS, Health, Agritech, Climate Tech, and deep tech, with investments ranging from Rs 1 crore to Rs 3 crore each. GVFL aims to provide comprehensive support to these startups, from seed to growth stages, in order to foster innovation and create an ecosystem of funding and mentorship for young entrepreneurs.
GVFL, known for its history of supporting over 110 companies through nine funds, is committed to providing venture capital to innovative startups. The firm conducts detailed assessments of market viability and management credentials, while also offering broad-spectrum support to the funded entities, ranging from strategic direction to governance support. Additionally, GVFL provides a co-investment platform named a4X.fund, designed to accelerate the growth of the seed-stage companies by offering mentorship and partnerships with industry experts.
Mihir Joshi, President of GVFL, emphasized the firm’s commitment to nurturing startups at the beginning of their lifecycle and providing them with the necessary resources to scale to maturity level. With a track record of investing in early-stage companies and committed investments of over Rs. 150 crores in the last 18 months, GVFL’s first close of Prarambh Fund signifies their dedication to supporting startups in their journey towards growth and success.
