VC firm GVFL to raise Rs 100-cr to fund 30 startups

New Delhi: Venture capital firm GVFL on Wednesday announced the first close of its new Seed Stage fund, Prarambh Fund, raising Rs 100 crore to nurture 25-30 promising seed startups in the next one year. The fund will focus on tech startups in B2B SaaS, healthtech, agritech, climate-tech and deeptech, with investments in the range of Rs 1 crore to Rs 3 crore each.

The targeted fund corpus is Rs 200 crore. "Prarambh Fund will ensure the availability of a seamless funding pathway for startups from seed to growth stages. We believe that providing capital support to pre-revenue and early-stage startups will position GVFL as a comprehensive venture capital firm," Kamal Bansal, MD, GVFL, said in a statement.