GVFL Launches Rs 100 Crore Prarambh Fund for Seed-Stage Startups
![GVFL Launches Rs 100 Crore Prarambh Fund for Seed-Stage Startups](/content/images/size/w1200/2024/06/ee9fff29-c329-48a0-b13c-f13220e180f0.png)
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.