GVLF to launch MSME venture fund shortly

Ahmedabad, DeshGujarat

Gujarat Venture Finance Limited(GVFL), the Gujarat Government’s Venture capital arm will shortly launch a new MSME(Micro, Small and Medium Enterprise) specific venture capital fund shortly. The state Government through a recent order instructed the company to start the MSME fund. The state Government will fully fund the venture under the new Industrial Policy 2015.

The entrepreneur setting up an MSME with innovative technology will be assisted to raise promoter contribution in the form of equity or loan through GVLF with various terms & conditions. The entrepreneur shall apply to Industries Commissioner along with project details of innovative technology. The GVLF will extend support to such entrepreneur to formulize the project and preparation of project report. The Industries Commissioner led technical committee will scrutinize the proposal in consultation with the GVLF. GVFL will also appraise the project and extend support to get loan from other sources. The assistance as promoter’s contribution will be @ 20% of project cost maximum upto Rs.50 lakhs.

Over the last two decades, GVFL has focused on the role of providing venture capital to technology oriented start ups. In our endeavor to back the first generation entrepreneurs, GVFL has gained deep insight into the entire growth cycle of its portfolio companies. GVFL also manages Gujarat Growth Development Fund.

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