Dukhabandhu Rath

Managing Director

Dukhabandhu Rath has joined as the Managing Director of GVFL. He has meritorious experience of 36 years in the Indian Banking industry. He worked with State Bank of India in all facets of Banking as a business leader and result driven professional. He has successfully performed a wide variety of roles and assignments at Corporate as well as Regional Offices of State Bank of India in Corporate Governance, Commercial Banking, Human Resources & Industrial Relations Management. He has been recognized as a top performer and been conferred with several honours, awards and recognitions in his career.

He possesses a proven track record of consistently exceeding business and financial targets whilst ensuring compliance with highest service standards and operational efficiencies. He has hands-on experience in providing a long-term vision and creative strategic focus towards achieving business goals. He has a passion to build and groom large teams to cohesive units of performers.

His last assignment in SBI was as Chief General Manager, Ahmedabad Circle (akin to Executive Director in PSBs)

Mr. Mihir Joshi


Mihir Joshi has been with GVFL for over 20 years and has experienced all stages of VC life cycle – fund raising, structuring of Funds, investments and harvesting returns to the investors. His learning curve has matured with liquidation of 3 funds (22+ exits) through various routes including IPO, secondary sale, acquisition, management buy out and buy back. He led some of the marquee investments of GVFL and represented GVFL on board of several investee companies like e-infochips, 20 Microns, Axio Biosolutions, Century Pharmaceuticals, Vidooly, Formcept etc. He was a member of Screening Committee of Technology Entrepreneurship Program (TePP), panel for setting up of Biotech Incubation Centre by DBT, and has been with the CIIE Investment Committee in the past. He is also a TiE charter member.

  • ICWA, Cost & Works Accountants of India
  • CS, Institute of Company Secretaries of India


Mr. Varun Joshi

Vice President

Varun has over 11+ years’ experience in private equity, venture capital investing and corporate finance. As part of the investment team at GVFL, Varun leads deal sourcing, evaluation and portfolio management activities.

His experience spans across roles in private equity, M&A and institutional sales in India, Europe and Hong Kong. Earlier he worked as a founding team member for Phi Capital, a Delhi based private equity fund with responsibility for investments, portfolio management and fundraising.

Previous to that, he was with the Moody’s Group in Hong Kong as VP Business Development and managed a team of consultants that provided quantitative investment research to global clients.

Varun started his corporate finance / investment career with Advisory Merchant Partners AG, a boutique advisory firm in Switzerland.

  • MBA, ESADE Business School, Barcelona, Spain
  • Bachelor of Engineering (Computer Science), RGPV Bhopal.

Mr. Tarun Agrawal

Senior Investment Associate

Tarun is responsible for end-to-end deal execution: sourcing, appraisal- operational and financial performance, assessment of industry, competition landscape, financial projections, deal structuring, executing definitive agreements, portfolio management and facilitating divestments.

Prior to GVFL, Tarun worked with CIIE where he lead the investment activities in Rajasthan for startups and also performed due diligence for startups for incubation program. Previous to that, he was with JRL Financial Services and Fortress Financial Service where we worked on startup based projects, performed research for respective markets and prepared financial modeling for educational trust, social media analytics company.


  • MFE (Economics) and MBA, Ohio University, USA
  • CFA, ICFAI University

Mr. Ravinder Singh Thakur

Senior Investment Associate

Ravinder is a techno-commercial investment professional with more than 15 year experience in Healthcare Domain. As a part of investment team Ravinder is responsible in deal sourcing, evaluation, structuring and

Ravinder has more than 8 year hands on experience in R&D lab operations (wet Chemistry & Biochemistry) and expertise in Project and Team Management in Life Science. In his role as a clinical research scientist, Ravinder was instrumental in Clinical R&D and project management of more than 25 drug molecules and execution of more than 60 clinical research projects across category of drug molecules such as Antiretroviral, Antihyperlipemic and Antidiabetic, NASAIDs and Analgesic, Antibacterial and Antibiotic, Immunosuppressant, Antidepressants and Endogenous compounds. Ravinder has worked with GlaxoSmithKline, Hester Biosciences and Veeda Clinical Research.

  • BSc. (Biotechnology), Bangalore University
  • Post Graduate Diploma in Financial Management

Mr. Param Patel

Senior Investment Associate

Param is a multi-sectoral investment professional with more than 7-year experience. As a part of investment team, Param is responsible for end-to-end deal execution: sourcing, appraisal- operational and financial performance, assessment of industry, competition landscape, financial projections, deal structuring, executing definitive agreements, portfolio management and facilitating divestments.

He was previously at Maxim Group LLC, wherein as a part of Investment Banking team worked with senior bankers on business restructuring matters, recommendations on strategic actions, capital raising, fairness opinions and prospectus building for multiple REITs, SPACs and IPO deals. Param analysed and advised on a broad range of financial matters to several corporate clients and worked with client’s management to coordinate with legal, regulatory, accounting, and other advisors. Prior to that at Citi Ventures, he worked on various fintech and healthtech modules. Prior to that, he has also worked on several M&A and business restructuring assignments.


  • MBA, CUNY Baruch College, NYC, USA
  • LL.B (Bachelors of Law), Gujarat University
  • CA (Chartered Accountant), ICAI
  • B.Com (Bachelors of Commerce), Ahmedabad University

Saurabh Nair

Relationship Manager

Saurabh Rajan Nair is responsible for raising funds, investor interactions, market communications, building new relationships and other functions related to the company & fundraising at GVFL Ltd. Saurabh had previously worked for Markit India and SNL Financial. He also has experience of raising over $15 million from UHNI’s for real estate projects with US based Pacifica Companies.

Saurabh has an Engineering degree from Gujarat University and MBA (Marketing and Finance) from Indian Business Academy, Greater Noida.

Deep vaghela

Deputy Manager(Secretarial)

Deep is Company Secretary of GVFL. He handles compliance of all Secretarial matters of GVFL.In addition he provides support to the Investment Team on secretarial compliance of investee companies.

Prior to joining GVFL, he has worked on Secreterial compliance for organisations like Chiripal Group, Ahmedabad. and Banco Group, Baroda. In his previous organization he has also earned experience on matters related to Public issue.

He is a fellow of The Institute of Company Secretaries of India and an MBA from Gujarat University.

Paresh Khakhkhar

Deputy Manager (Accounts)

Paresh has been associated with GVFL since last 15 years. He has been involved in monitoring of existing investments in field of Accounting, Internal control systems and Tax compliances. Previously he was part of the internal Accounts team at GVFL and involved in day-to-day Accounts, Audit, Tax compliances etc.

Paresh is a Commerce graduate from Gujarat University and C.A. (Inter.) from The Institute of Chartered Accountants of India.

Sejal Zaveri

Manager (HR & Administration)

Sejal has been associated with GVFL with since 2006.She looks after Administration and other allied activities of the company.

Sejal is an Economics graduate from Gujarat University. She has a Diploma in HRM from Ahmadabad Management Association.

Paresh Shah

Deputy Manager (IT)

Paresh Shah has been associated with GVFL since 2000, Paresh is responsible for all the IT related activities in the organization.

Prior to GVFL, Paresh has worked for eight years in IT field. He was associated with Troikaa Pharmaceuticals, Dishman Pharmaceuticals Ltd and Cadila Pharmaceuticals Ltd.

Paresh is B.Sc.(Physics) from Gujarat University and has been trained in various IT related areas through various certificate courses

Rajiv Chauhan

Deputy Manager (Accounts)

Rajiv has been associated with GVFL since 2007. Apart from regular accounts work, he is responsible for internal Audit & Statutory audit for companies and all funds.

Rajiv is a Commerce graduate from Gujarat University.