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Managed by GVFL
SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.
iCreate Angel Fund Trust (IN/AIF1/24-25/1491) is a SEBI-registered Category I Angel Fund (registered April 2024) managed by GVFL Limited — India's oldest VC firm and pioneer of venture capital in India, based in Ahmedabad, Gujarat. The iCreate Angel Fund is GVFL's third fund focused specifically on Gujarat-based startups, with ticket sizes of INR 25 lakh to INR 1.5 crore at the pre-seed stage using CCPS and equity instruments. GVFL has been investing since the early 1990s and has a portfolio of 150+ investments with 80+ exits and 75%+ divestment rate. The fund is managed from C-1221, 1222, Stratum at Venus Ground, Satellite Road, Nehrunagar, Ahmedabad – 380015. GVFL operates three funds: GVFL Emerging Enterprise Venture Fund (INR 5–20 crore, Pre-Series A to Series B), GVFL Prarambh Fund (INR 50 lakh–3 crore, Seed), and iCreate Angel Fund (INR 25 lakh–1.5 crore, Pre-seed, Gujarat-focused).
Hemang Vaidya
Team Member
Madhav Singhal
Team Member
Ayush Makharia
Team Member
Gautam Jain
Team Member
Dhruvil Soni
Team Member
Vivek Jadav
Team Member
Miral Katariya
Team Member
Abhinav Tiwari
Team Member
Bhargav Panchal
Team Member
Paresh Shah
Team Member
Sejal Zaveri
Team Member
No insights published yet.
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Paresh Khakhkhar
Team Member
Rajiv Chauhan
Team Member
Saurabh Shah
Team Member
Pratik Patel
Team Member
Prachi Kavedia
Team Member
Aji Nair
Team Member
Ketan Acharya
Team Member
Vijayalaxmi Rai
Team Member
Lekha Sharma
SEBI Contact Person (Gujarat Biotechnology Venture Fund)
Lekha Sharma is Company Secretary and designated SEBI contact person for iCreate Angel Fund Trust at GVFL Limited.
Mihir Joshi
Managing Director
Mihir Joshi is the Managing Director of GVFL Limited with 25 years of venture capital investment experience across diverse sectors. He is one of India's few VCs to have navigated full fund life cycles multiple times — from fundraising through investment to successful exits. He has invested in 150+ startups and successfully exited from 80 investments, serving on the boards of 30+ companies. His portfolio spans Deep Tech, SaaS, Consumer, TravelTech, Logistics, FoodTech, EdTech, Renewable Energy, Space, Biotech, AgriTech, and MedTech. Charter Member of TiE. Qualifications: ICWA, CS; Advanced Management Programme (IIM Ahmedabad); Venture Capital training (IAPEI Hong Kong).
Saurabh Nair
Senior Vice President
Saurabh Nair is SVP at GVFL, responsible for deal origination, evaluation, portfolio management, investment structuring, and post-investment founder support. Previously Associate Vice President at GVFL, managing end-to-end investment cycles and serving as board nominee for portfolio companies. B.E. from Gujarat University; MBA (Finance & Marketing) from Indian Business Academy; NISM Series XIX C certified.
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