VCs flocking to GIFT City to tap global investment opportunities

More Indian venture capital firms are setting up offices in Gujarat International Finance Tec-city, GIFT city for short, as this makes it easy for funds to invest in overseas startups and offers an alternative to offshore routes such as Mauritius, several investors told ET.

Multiple VCs ET spoke to have either set up in GIFT City or evaluating the region even as more Indian founders move to the US. VC firms that have set up in the region include Blume Ventures, 3one4 Capital, Stellaris Venture Partners, A91 Partners, and Z47, which opened its first office in GIFT City recently. Private equity firms such as Kedaara Capital and Multiples have set up in the region as well.