Companies

GVFL exits eInfochips with 7.4 times gains

Our Bureau Ahmedabad | Updated on January 11, 2018 Published on January 11, 2018

Venture funding player, GVFL Ltd, informed that it has recently exited from eInfochips, an Ahmedabad-based product engineering services firm, with a blockbuster return of 7.4 times of its investment from SME Technology Fund.

Arrow Electronics Inc, a US-based player has acquired eInfochips, including the entire stake held by GVFL, for an undisclosed amount. Post the acquisition, eInfochips will act as a fully-owned subsidiary of $24-billion Arrow Electronics.

Sanjay Randhar, Managing Director, GVFL Ltd, commented, "A divestment like this endorses our belief and capabilities in early stage investing and the benefit it brings in a multitude of ways to the investor, entrepreneur and the ecosystem. With this exit, we have returned substantial value to our investors. We continue to focus on such opportunities from our latest 8th fund,GVFL Startup Fund that is focused on innovative entrepreneurs.”

GVFL Ltd was an early and only VC investor in eInfochips since 2008 when GVFL SME Technology Fund made an investment in the company.

Published on January 11, 2018
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