Kamal Bansal

Managing Director

Mr. Kamal Bansal is the Managing Director of GVFL Limited

He is responsible for overall leadership to GVFL Limited. He overseas GVFL’s impact in Gujarat in terms of Innovation, job creation etc.

Professional Experience

Finance Professional with rich experience of over 2 decades in Venture Capital / Private Equity Investing, Capital Markets, Institutional Equities Research, Investment Banking and Debt Capital Markets.

A unique 360% experience of investing/fund raising in unlisted early-stage companies as well in public equity capital markets.

Skilled in Investment appraisal, business due diligence, Fund structuring, shareholders agreements & post Investment support in early part of career with India’s leading Venture Capital Firms. 

Hands on experience of closely working with entrepreneurs at the strategic as well as operational levels.

Exposure to fund raising & operations for Venture capital funds.

Successfully conceptualised and built-up the business of Investment & Merchant Banking covering entire gamut of services.

Strong knowledge of Listed Equities gained as Head of Institutional Equities Research and Sales.

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


Saurabh Nair

Associate Vice President

Saurabh Rajan Nair is with GVFL Ltd. for 3 years.

Saurabh is responsible for raising funds, investor interactions, market communications, building new
relationships and other functions related to the company & fundraising at GVFL Ltd.

As a part of the investment team, Saurabh is responsible for end-to-end deal execution: sourcing,
appraisal- operational and financial performance, assessment of the industry, competition landscape,
financial projections, deal structuring, executing definitive agreements, portfolio management and
facilitating divestments.

He is an angle investor in his personal capacity.

Saurabh had previously worked for Pacifica Cos., Markit India and SNL Financial.

MBA (Marketing & Finance) from Indian Business Academy
B.E (Instumentation & Control), Gujarat University

Ruchit Shah

Senior Associate

Ruchit has more than 4 years experience across investment banking and valuations. As a part of the investment team, Ruchit is responsible for executing the entire deal life cycle including deal sourcing, deal evaluation, deal structuring, executing definitive agreements, portfolio management and facilitating divestments.

He was previously working with an investment banking firm, Zanskar Advisors Private Limited and was responsible to execute the entire deal making process and has experience across varied segments including enterprise tech, HR tech, consumer brands, cyber security, health & wellness etc. Prior to that, he was working with Knowcraft Analytics where he was involved in valuations of US-based companies in the pharma & biosciences segment.

  • PGDM, NMIMS Bangalore
  • B. Com, University of Mumbai

Rucha Maheshwari


Rucha being a part of the investment team is responsible for deal sourcing, deal screening and due diligence, market research, deal structuring, finalizing the deal, portfolio monitoring and facilitating divestments.

Previously she was working with ICICI Bank for 3 years where she was responsible for providing working capital finance to MSME customers having turnover up to 1000 crores and limit underwriting to 20 crores. Her responsibilities included evaluation of business model, credit analysis and assessment along with relationship maintenance.

  • CFA – Level II Candidate
  • MBA – Finance, NMIMS University, Mumbai
  • BTech – Mechanical, NMIMS University, Mumbai

Mrunali Parikh


Mrunali SN. Parikh is a Chartered Accountant with experience in Financial Statement Analysis, Taxation, Financial Modelling, Valuations & Auditing & Assurance. As a part of the investment team, Mrunali is responsible for end-to-end deal execution: sourcing, appraisal- operational and financial performance, assessment of the industry, competition landscape, financial projections, deal structuring, executing definitive agreements, portfolio management and facilitating divestments.

She was previously associated with Talati & Talati LLP, Chartered Accountants as an Intern wherein she has been involved in Reporting and Analysis of Financial Statements for the NBFC’s & Banks at the Head Office Level. She has been involved in Auditing the Treasury operations of a Nationalized Bank. Further, she has been part of Valuations of Companies in Power, FMCG, Personal Care and Entertainment Sector in her previous engagement with Bakertilly DHC. She is a startup and Ecosystem Enthusiast and is associated with Headstart Foundation as a Volunteer in Investor Circle.    

  • CA (Chartered Accountant), ICAI ( All India Rank Holder)
  • B.com (Bachelor of Commerce), Gujarat University

Lekha Sharma


CS Lekha Sharma is an Associate Member of Institute of Company Secretaries of India and also a Commerce & Law Graduate from Gujarat University. She is two times All India Rank holder while pursuing her studies of Company Secretary. She handles legal matters of GVFL. Her legal expertise and transaction structuring abilities plays important role in the investment due diligence, mergers and exits.  She contributes in value add to portfolio companies.

In addition, she also provides support to the Investment Team on secretarial compliance of investee companies. 

Currently, Lekha is handling the Portfolio of Companies having Invested Value of INR 115 Cr. and engaged in renewable and infrastructure space.

Prior to joining GVFL, she has worked for Piramal Group and other private sector companies and has earned experience on various secretarial and legal matters of private and public companies as well as of NGOs. She has also been part of implementing and administration of “Compliance Tool” which keeps track on all sectoral and regulatory compliances in her previous organisations.

  • LLB (Bachelor of Law) – Gujarat University
  • C.S. (Company Secretary) – Institute of Company Secretaries of India

Parth Shah


Parth Shah is a Chartered Accountant. He is expert in finance, costing, valuation and tax matters. 

He is also responsible for sourcing and reviewing of deals, Financial Planning, Analysis and Modelling, co-ordination with promoters, understanding the Prospect and Scalability with Market, close monitoring of investee companies, reviewing the legal documents (SHA,SSA,CP Letters, etc), Due diligence ( Financial. Legal, etc), NAV and IRR Calculation of Portfolio, Moulding of Exit Strategy.

Currently, handling the Portfolio of Companies having Invested Value of INR 80 Cr and engaged in Logistics and Manufacturing sectors.

He also supervises accounts at GVFL. 

He was previously associated for two years with a Mumbai based Real Estate company as a Manager of Accounts department. He was also associated with a well-known Chartered Account Firm wherein he closely worked in Advisory to multilevel clients engaged in Service Sector, Manufacturing Sector and Real Estate etc.

  • CA (Chartered Accountant) – ICAI         
  • B.Com (Bachelors of Commerce) – Gujarat University

Sejal Zaveri

Manager (HR & Administration)

Sejal has been associated with GVFL with since 2006. She is currently working as Manager (HR & Administration). She serves in a dual role involving the full spectrum of both human resource management and general administrative management. She is responsible for performing HR-related duties in the functional areas of recruitment, employee relations, compliance, compensation & benefits, onboarding, policy implementation, performance appraisal, training & development etc. She supervises daily support operations, plans the most efficient administrative procedures to ensure all support activities are carried on efficiently and effectively to allow the other operations to function properly. 

  • Post Graduate Diploma in Business Administration (HR) – Symbiosis
  • Diploma in HRM from Ahmedabad Management Association
  • B.A. (Bachelor of Arts) in Economics – Gujarat University

Paresh Shah

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 other corporates also. He was associated with Torrent Pharmaceuticals, Troikaa Pharmaceuticals, Dishman Pharmaceuticals Ltd and Cadila Pharmaceuticals Ltd.

He has been trained in various IT related areas through various certificate courses

  • B.Sc (Bachelor of Science) in Physics – Gujarat University 

Paresh Khakhkhar

Manager (Accounts)

Mr. Paresh Khakhkhar is working with GVFL Ltd. as Deputy Manager since August 1995. Mr. Khakhkhar 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.

Mr. Khakhkhar’s major assignments during his career with GVFL Limited.  

  • Turnaround of Colortek (India) Ltd.

GVFL made a seed stage investment in Colortek (India) Ltd. The company faced many teething problems in the early years due to insufficient professional personals. The company was facing liquidity problem on account of poor debtors collection,  inventory management, the banks charging very high rate of interest on cash credit facility on account poor repayments to banks.

Mr. Khakhkhar, as part of monitoring team of GVFL, introduced proper inventory & debtors management system. Tasks were performed to improved the inventory management system and reduced the long outstanding debtors.

To improve overall operations of the company, GVFL team introduced ISO 9000 certification at Colortek (India) Ltd.

  • Sahajanand Laser Technology Ltd. – Implementation of Internal Audit & Internal Control System: 

GVFL made an investment in Sahajanand Laser Technology Ltd., Gandhinagar, Gujarat. The company was a pioneer in diamond cutting machines using fiber technology.

The company faced problems due to poor internal control system. Mr. Khakhkhar & GVFL monitoring team appointed KPMG to design and implement the Internal Audit & Internal Control System.

To improve overall operations & Internal control of the company, Mr. Khakhkhar deployed the Microsoft ERP System.


  • B.Com (Bachelors of Commerce) – Gujarat University 
  • Chartered Accountant (Inter.) – The Institute of Chartered Accountants of India.

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.

  • B.Com (Bachelor of Commerce) – Gujarat University.

Rachit Joshi

Executive Corporate Relations

Rachit Joshi as an executive corporate relations professional is responsible for capital raising, investor relations, market research and maintaining relations with the stake holders of GVFL Ltd.

He is also looking after Govt. Liaisoning work for all the matters. Along with that he is also responsible for executing MoUs with incubation centres. In addition, he is a google certified digital marketer and handing digital marketing for GVFL Ltd.

Prior to joining GVFL, He was associated with Cadbury and upGrad as an intern wherein he closely work on marketing techniques and strategies for improvement of business in the competitive ecosystem.

  • MBA (Master in Business Administration) in Finance & Marketing – St. Kabir Institute of Professional Studies 
  • B.Tech (Bachelor of Technology) in Automobile – L.J Institute of Technology

Aji Nair

Executive Assistant to MD

Aji is the Executive Assistant to the Managing Director. She is responsible for providing key administrative and day-to-day business support to the MD. 

Aji brings over 25 years of experience in the field of secretarial and office management. Prior to GVFL, Aji has worked with various organisations including educational, manufacturing and construction, viz, Ramky Infrastructure, Academy of HRD, etc. 

Higher Diploma in Co-operation – Co-operative Training College and professional certificates in Secretarial courses

  • M.Com (Master of Commerce) – Kerala University
  • B.Com (Bachelor of Commerce) – Kerala University

Ketan Acharya

Assistant Manager (Administration)

Ketan has been associated with GVFL since its inception in 1990. Ketan is an integral part of the Administration department and handling external manpower. Ketan has been instrumental in vetting and coordinating quotations, payments, labor expenditure and assisting in all other administrative and day-to-day operations.

  •  Masters of Arts (MA) from Gujarat University
  •  Bachelors of Arts (BA) from Gujarat University

Vijaylaxmi Rai

 Assistant Manager (Front Office)

Vijayalaxmi Rai is associated with GVFL Ltd since August 1991. She works as Receptionist and support functionary to GVFL Ltd. Her work includes that of Reception & General Administrative responsibilities.

Prior to GVFL, she worked for Greaves Cotton Ltd. & Travel Corporation of India

  • Post Graduate Diploma in Business Administration (HR) – Symbiosis
  • B.A. (Literature) – Gujarat University

Saurabh Shah

Saurabh has been associated with GVFL since 2008 as Executive (Accounts). Apart from regular accounts work, he is responsible for internal Audit & Statutory audit for companies and all funds.

  • B.Com (Bachelor of Commerce) – Gujarat University.