Business

GVFL Launches Rs 100 Crore Prarambh Fund for Seed-Stage Startups

Jun 19, 2024 1 min read

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Ahmedabad-based venture capital firm GVFL has announced the first close of its new seed-stage fund, Prarambh Fund, at Rs 100 crore, with a targeted total corpus of Rs 200 crore. The fund aims to invest in 25-30 seed-stage startups in the next year, focusing on sectors such as B2B SaaS, healthtech, agritech, climate-tech, and deeptech. Investments will range from Rs 1 crore to Rs 3 crore per startup.

GVFL, formerly known as Gujarat Venture Finance Limited, has raised nine funds to date, supporting over 110 companies and divesting from more than 75% of its portfolio. The firm also offers a co-investment platform named a4X.fund (accelerate for excellence), which provides acceleration services and partnerships with mentors and industry experts to help seed-stage companies develop their growth roadmap.

#startups #venture-capital

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