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BT Venture Fund

Gujarat Biotech Venture Fund (GBVF)

As announced by Shri Narendra Modi in BIO-Gujarat, Government of Gujarat has launched the Gujarat Biotechnology Venture Fund at the initiative of Gujarat State Biotechnology Mission. This Fund would be managed by GVFL Limited.

Government of Gujarat has provided the initial seed funding of Rs.50 million.

Size of the Fund

GBVF is a 12 year close-ended fund. The final corpus of GBVF would be Rs.500 million, which would be invested in the Biotechnology companies in the state of Gujarat. Objective The objective of the Fund is ‘to achieve long term capital gains through investments in businesses which have the potential to become forerunners in large high growth markets’.

Prospective Investors of Biotech Fund
The participants in the proposed fund could be:

  • State Government
  • Institutional investors

  • Corporate Entities
  • High Networth Individuals etc.

Investment Areas

GVFL shall identify start-ups, early stage and existing companies in the areas of biotech and related areas having potential to become leading players in India or be acquired by multinational companies or in synergy with corporate investors of the Fund. Some of the potential areas for investment are, but certainly not limited to, Biopharma, Agriculture Biotechnology, Contract Research, Bioinformatics, Industrial Biotechnology, Marine Biotechnology and Environmental Biotechnology.

Biotech venture support

State Government has Established Gujarat Biotech venture Fund of Rs. 50 crores, with Rs.10 crores as state govt. share and remaining Rs. 40 crores to be mobilized from financial institutions

Fund released from State Government

S. No. Year Amount released (Rs. in lacs )
1 2004-05 Rs. 300.00 lacs
2 2005-06 Rs. 300.00 lacs
3 2006-07 Rs. 200.00 lacs
4 2007-08 Rs. 200.00 lacs

Total Rs. 1000.00 lacs

More than 8-9 projects with request for venture financing After due diligence, GVFL has approved following projects.

Projects Approved for venture financing

S. No. Name of company Amount released (Rs. in lacs )
1 Celestial Biologicals Limited Rs.200.00 lacs
2 Century pharmaceuticals Limited Rs.250.00 lacs
3 Amrita Therapeutics Private Limited Rs.200.00 lacs
4 Aura herbal wear Limited Rs.240.00 lacs

Total Rs.890.00 lacs

Page last updated on: 5/5/2018

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