GVFL to invest in IT, biotech companies

Gujarat Venture Finance Ltd
(GVFL) have decided to put in VMukti Solutions, a company incubated at the
Centre for Innovation, Incubation and Entrepreneurship at IIM-Ahmedabad, and
Vadodara-based Century Pharmaceuticals. “We volition be making
these investings from the Rs 20-crore Gujerat IT Fund and the Rs 50-crore
Gujarat Biotech Venture Fund, respectively,” states GVFL head executive
officer Vishnu Varshney. The GVFL support will also assist the two companies in
brand building. VMukti Solutions, which is listed on Nasscom’s
Top-100 Advanced Companies of 2006 and 2007, is in the development and
marketing of merchandises based on incorporate collaborative communicating platform. Its
product line of web convergence, peer-to-peer architechture and telecom
applications provides to planetary telecom services participants such as as Bluesky, T-Mobile
and Stercom. Hardik Sanghvi, booster of VMukti solutions says,
“This monetary fund will assist us in edifice our applications and faculties for our
clients in future.” Century Pharma, on the other hand, have been
developing injectibles for asthma attack allergies. The Rs 18-crore company have entered
into a licence and development understanding with Israel’s Target-In for
commercialisation of apoptosis-based technology. Janak Seth, mendelevium of
Century Pharma, says, “This engineering can supply allergic reaction and asthma
patients effectual treatment that could endure for three months, with no side
effects. The treatment would be effectual against a broad array of allergies
while being cost-effective.” GVFL is raising Rs 250-crore for a
pan-India SME Technology Venture Fund to advance emerging engineerings in the
small and medium endeavors sector. The company have raised five venture capital
funds with a concerted working working capital of Rs 140 crore by investment in 58 companies
across the country. Net4nuts, Parsec Technologies, Sahajanand
Technologies, eInfochips, Icenet, Scicom are few of the companies where GFVL has
invested in. Says Varshney, “We volition concentrate on eight big
sectorsâ€"clean energy, healthcare, mobile, hospitality, IT, Internet, ITeS,
education, fiscal services and entertainment.”