“GVFL has been at the forefront of ‘Atmanirbhar Bharat' long before the word was coined”
Indian Economy & Market|October 2021
There are a lot of disruptions happening in the entire segment of the economy in these critical times. Please elaborate the kind of crises you faced and what has been the impact of Covid and lockdown?

In the last few years, we have seen major business disruptions happening due to cheap internet and smartphone penetration. With the technological innovations, the innovators are playing a disrupting role in the economy. With the advent of cryptocurrencies like Bitcoin, these tokens are being unofficially used as a currency without Government or central bank oversights. Such disruptions were never thought of before.

But Crypto’s aside, we see that technology is playing a disrupting role in medical, defense, education, finance and almost all other activities. At GVFL our intention has been and continues to be to support entrepreneurs who are disrupting the industry for a larger good. If the technology is scalable to better the lives of millions of people, we are ever ready to make an investment.

To answer your second part, Covid and Lockdown did create a lot of uncertainties with us as well as in our investee companies. By the grace of God, none of our employees or the entrepreneurs of the investee companies were affected severely by Covid. During Covid induced lockdown, our major emphasis to our investee companies was to preserve cash. This was not a major worry because as an investment thesis we do not invest in cash burn business models, but we still had our eyes on the cash component in every business. A couple of our investee companies that were under change of business plans ran out of cash, but we were quick to do follow on investments into these companies.

Please let us know how the journey began 30 years ago?

The real credit would go to the Government of Gujarat for the establishment of GVFL Ltd. When World Bank proposed a Venture Fund in 1990, when the word “Venture” was almost unheard of, the visionary leaders of the Government of Gujarat gave the nod to establish GVFL Ltd., which was one of the first Venture Capital funds in India. We also created milestones in the form of launching one of the earliest Biotechnology Fund, one of the earliest Information Technology funds. We launched an Infrastructure Fund, which again is a unique milestone in the venture capital industry even today. Till date, we have not lost any capital from our past funds and continue making good returns in our current funds.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM INDIAN ECONOMY & MARKETView All

Some Unfortunate Truths About Investing

Importance Of Investing

2 mins read
Indian Economy & Market
November 2021

“We've a Lot of Surprises in Store for Investors”

FACE TO FACE DISCUSSION

9 mins read
Indian Economy & Market
November 2021

Raghav Productivity Enhancers Ltd. World's Largest Manufacturer of Silica Ramming Mass

“We aim to be a futuristic company maintaining the global player tag that we have”

8 mins read
Indian Economy & Market
November 2021

It's True, Globalism is anti-democratic

Globalist elites don’t trust you to make the right choice

5 mins read
Indian Economy & Market
November 2021

Rich or Poor

Poverty or Wealth Is A State of Mind.

3 mins read
Indian Economy & Market
November 2021

5 Glittering Stocks for Samvat 2078

Samvat 2077 has been exceptionally well for the equity market. However, Samvat 2078 will be little subdued but these five stocks will add spark to your portfolio.

9 mins read
Indian Economy & Market
November 2021

Will ‘Bad Bank' Craft Good Banks?

Finance Minister, Nirmala Sitharaman has, at last acted upon one of her many announcements during the 2021 Budget presentation, by declaring the creation of India’s first-ever ‘Bad Bank. It will acquire all the NPAs of a bank at a price that is below their book price. It then will work to recuperate and turn around the assets by way of expert management, sale, or restructuring. How effective would be bad bank to solve the mega problem of NPAs? Shivanand Pandit answers this big question.

5 mins read
Indian Economy & Market
October 2021

“GVFL has been at the forefront of ‘Atmanirbhar Bharat' long before the word was coined”

There are a lot of disruptions happening in the entire segment of the economy in these critical times. Please elaborate the kind of crises you faced and what has been the impact of Covid and lockdown?

5 mins read
Indian Economy & Market
October 2021

RAFT MOTORS Revolutionizing the EV Segment

Raft Motors is a new entrant in the Electric Vehicle segment, however, with ever-increasing dealership nodes in major towns, it is fast emerging as one of the industry leaders with innovative products and advanced engineering skills.

9 mins read
Indian Economy & Market
October 2021

KIOCL Limited Despite Lockdown Registered Spectacular Financial Performance

KIOCL Limited, (Previously known as Kudremukh Iron Ore Company Ltd.), a Flagship Company under the Ministry of Steel, was formed in 1976 for mining and beneficiation of low-grade iron ore at Kudremukh, at Chikkamagaluru district of Karnataka. The Company was conferred with Mini Ratna status in 1999. The country’s prestigious Export Oriented Unit (EOU) has its Pelletisation Complex and Pig Iron Complex (Blast Furnace Unit) at Mangalore and engaged in the business of manufacturing high quality Iron Ore Pellets for export and domestic market and supply of foundry grade pig iron in domestic market.

5 mins read
Indian Economy & Market
October 2021
RELATED STORIES

A Crash Course in Omicronomics

Sussing out the impact of the new coronavirus variant on growth and inflation

4 mins read
Bloomberg Businessweek
December 06, 2021

OMICRON UNRAVELS TRAVEL INDUSTRY'S PLANS FOR A COMEBACK

Tourism businesses that were just finding their footing after nearly two years of devastation wrought by the COVID-19 pandemic are being rattled again as countries throw up new barriers to travel in an effort to contain the omicron variant.

5 mins read
AppleMagazine
December 03, 2021

PRESCRIPTION FOR 2022 - These Health Care Stocks Should Thrive

Pharmaceutical and health sciences firms are riding powerful demographic trends amid a golden age of innovation.

7 mins read
Kiplinger's Personal Finance
January 2022

Strongmen? Us?

Don’t let their confidence fool you: Xi, Putin, and other authoritarians are increasingly vulnerable at home

6 mins read
Bloomberg Businessweek
November 22 - 29, 2021

We're Not There Yet

To end the pandemic, we need more vaccinations—not just new pills

4 mins read
Bloomberg Businessweek
November 15, 2021

Unvaccinated? Time to Make an End-of-Life Plan

A good idea for anyone, advanced directives are especially important if you’re willing to risk a potentially fatal illness

4 mins read
Newsweek
November 05, 2021

Worth a Shot

Doctors and health experts strongly back COVID vaccination for kids. PARENTS aren’t so sure

10+ mins read
Newsweek
November 05, 2021

Sharing a Common Goal

Why Puerto Rico is the most vaccinated place in America

4 mins read
Newsweek Europe
November 12, 2021

Self-Care 101

How to create a nourishing self-care routine that can help you feel calmer, more centered, and better able to face the challenges of the world around you.

6 mins read
Better Nutrition
November 2021

The LONG Journey BACK

DAYS’s Suzanne Rogers shares the harrowing details of the medical scare that kept her out of Salem for six months.

9 mins read
Soap Opera Digest
October 11, 2021