SEBI approves GVFL launched Rs 600 crores MSME-startup fund
Updated: Feb 10, 2015 05:12:43pm
Ahmedabad, Feb 10 (KNN) SEBI approved Value Multiplier Fund, the new MSME fund set in motion by Ahmedabad based venture capital firm GVFL (Gujarat Ventures Finance Ltd.), a pioneer of venture capital.
Approved as Category I (SME Fund) under AIF Regulations, it will be invested in young companies with scalable business model, large target market, high entry barrier / first mover advantage, technology start-ups and non-technology MSMEs in the early-growth stage and supported by sound management team. The fund was showcased to international investors from UK, US, Japan, Singapore, Canada in Vibrant Gujarat Summit 2015 who evinced keen interest.
Mr Mihir Joshi, President & CEO, GVFL stated that country’s GDP is expected to increase at 8-9 per cent and MSMEs are likely to grow at 18-20 per cent as there is tremendous optimism in investment activities in India, a result of Government's initiatives for reforms on ease of doing business, higher infrastructure spending in next 5 to 10 years, technology penetration, and growth in aspiring middle class.
He stressed that only if investment is made in the right businesses and entrepreneurs, the return on equity investment in such companies would be significantly higher. He also added that if need be the fund size could be reviewed and increased post union budget.
GVFL plans to invest the fund in diverse sectors such as medical devices, affordable healthcare, education, manufacturing and IT among others. (KNN/SS)
Approved as Category I (SME Fund) under AIF Regulations, it will be invested in young companies with scalable business model, large target market, high entry barrier / first mover advantage, technology start-ups and non-technology MSMEs in the early-growth stage and supported by sound management team. The fund was showcased to international investors from UK, US, Japan, Singapore, Canada in Vibrant Gujarat Summit 2015 who evinced keen interest.
Mr Mihir Joshi, President & CEO, GVFL stated that country’s GDP is expected to increase at 8-9 per cent and MSMEs are likely to grow at 18-20 per cent as there is tremendous optimism in investment activities in India, a result of Government's initiatives for reforms on ease of doing business, higher infrastructure spending in next 5 to 10 years, technology penetration, and growth in aspiring middle class.
He stressed that only if investment is made in the right businesses and entrepreneurs, the return on equity investment in such companies would be significantly higher. He also added that if need be the fund size could be reviewed and increased post union budget.
GVFL plans to invest the fund in diverse sectors such as medical devices, affordable healthcare, education, manufacturing and IT among others. (KNN/SS)
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