GVFL, a venture capital firm which is currently investing from its eighth fund – GVFL Startup Fund – and has already backed several companies like SITAC RE, Ushdev Power Holdings, Hubtown, Ratnakar Estate Developer Private Ltd and Schedulers Logistics India Pvt Ltd from its last fund – Golden Gujarat Growth Fund-I – which fully deployed now, says it plans to back an additional eight companies this fiscal.
The $38 million GVFL Startup Fund marked its first close in September last year, and has invested in four companies. With this, the VC firm has launched a total of eight funds since inception.
In an interaction with DEALSTREETASIA, Sanjay Randhar, MD of GVFL, talks about his investment and exit plans this year, while also sharing his views on Indian market.
We understand GVFL currently invests from its Golden Gujarat Growth Fund-1, and has backed around 7-8 companies, how many more investments you plan to do this year?
We have recently fully deployed this Fund. The fund has invested into more than 10 companies. We are planning to invest into 5-6 companies in current year from our new fund ‘GVFL Startup Fund’.
Can you elaborate on your investment strategy? What is the average ticket size?
The new fund ‘GVFL Start-up Fund’ is a sector agnostic fund. It focuses on investments in start-up early stage companies. The ticket size ranges from Rs 2-20 crore in multiple rounds.
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