GVFL Ltd. (formerly Gujarat Venture Finance Limited) is widely regarded as the pioneer of venture capital in India. GVFL Ltd. is an independent, board-managed, autonomous venture finance company based at Ahmedabad, Gujarat (India).
Started in 1990 at a World Bank initiative under the aegis of Gujarat Industrial and Investment Corporation (GIIC), GVFL Ltd. is a 'classical' venture capital company focused on funding small and medium technology-based enterprises.
Over the past 17 years, GVFL Ltd. has raised five Venture Capital Funds with a cumulative corpus of Rs. 1362 million and is currently in the process of raising a SME Fund. These funds are invested in 61 companies across the country, which are systematically provided financial and managerial support by GVFL Ltd. Today, GVFL Ltd. has divested from 53 out of 61 investee companies.