Gujarat Venture Finance Limited Announces First Close of New Seed Fund, Prarambh

Gujarat Venture Finance Limited (GVFL), a leading independent venture finance company, has achieved a significant milestone with the first close of its new seed-stage fund, Prarambh. This fund signifies GVFL’s continued commitment to fostering innovation and supporting early-stage startups in India.

Prarambh Targets Promising Seed-Stage Tech Startups

Prarambh boasts a total corpus of Rs 200 crore, with the first close securing Rs 100 crore. GVFL plans to strategically deploy these funds in 25-30 promising seed-stage technology startups throughout the year. The fund will focus on tech-driven companies across various high-growth sectors, including B2B SaaS, health-tech, agri-tech, climate tech, and deep tech. Prarambh’s investment range falls between Rs 1 crore and Rs 3 crore per startup, enabling targeted support for emerging ventures.

Building on a Legacy of Success

GVFL brings a wealth of experience to the table, having successfully managed nine funds to date. These previous funds have empowered over 110 companies, with more than 75% of those portfolio companies experiencing successful exits, generating exceptional returns for GVFL’s investors. This proven track record positions Prarambh for similar success in nurturing the next generation of groundbreaking startups.

a4X.fund: A Platform for Accelerated Growth

Beyond providing financial backing, GVFL offers additional support through its co-investment platform, a4X.fund (accelerate for excellence). This platform caters specifically to seed-stage companies, providing them with valuable acceleration services. Through a4X.fund, startups gain access to mentorship opportunities and partnerships with industry experts. This comprehensive support system is designed to equip early-stage ventures with the tools and guidance necessary to create a clear roadmap for growth and achieve long-term success.

GVFL’s Continued Investment in the Indian Startup Ecosystem

The launch of Prarambh follows GVFL’s successful first close of its ninth fund in July 2022, which secured Rs 185 crore from a total corpus of Rs 500 crore. This continued dedication to raising capital demonstrates GVFL’s unwavering commitment to fueling innovation and propelling the Indian startup ecosystem to new heights.