GVFL set to launch Rs 200 cr fund for start-ups

Ahmedabad, July 2 (KNN) Gujarat Venture Finance Limited (GVFL), the city based venture financing firm, is all set to launch a Rs 200 crore fund aimed at financing start-ups by the end of July. 
 
According to a media report, H C Pattnaik, Director and CEO of GVFL has said the firm will deal with about 8-10 incubation centres and will primarily invest in start-ups that are already being incubated at the various incubation centres across the country.
 
GVFL may work together with Incubation centres like Gujarat Technological University (GTU), iCreate and DA-IICT among others.
 
Pattnaik further said that, “Currently, incubation centres have to scout for investors. It will be a relief for such incubation centres as the fund will now approach them."
The Government of Gujarat, Centre, Small Industries Development Bank of India (SIDBI) and Central Bank and GVFL among others will participate in this fund.  (KNN/JN)