GVFL to launch seed fund of Rs 200 crore for tech start-ups

The Gujarat Venture Finance Limited (GVFL) is set to launch a seed fund with a target of Rs 200 crore for technology enabled start-ups in Gujarat, the firm’s managing director Kamal Bansal announced on Tuesday.

“We are making a new fund called seed fund, with an investment of Rs 50 lakh to Rs 2 crore… this at a very nascent stage of a start-up. There is another set of funds wherein we will invest Rs 5 crore to Rs 15 crore, mainly for early stage and growth stage companies. This is to ensure that we are present at each and every stage. This will help in supporting the start-ups to the next level. This is the vision for the next 3-5 years,” Bansal, said.