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Former GVFL MD & CEO Vishnu Varshney Passes Away

30 July, 2009

Vishnu Varshney, former MD & CEO of one of India’s oldest venture capital funds GVFL Ltd, passed away today morning after suffering from cerebral haemorrhage. Varshney was hospitalised on Sunday. Varshney is survived by his wife and two children.

Varshney was the Vice Chairman oF GVFL Ltd, a post he took over after stepping down as the CEO early this year. Mihir Joshi, who was earlier the vice president & company secretary, was appointed as the interim MD of the Ahmedabad-based venture capital firm. 

Varshney helped set up GVFL, the oldest venture capital in the country, in 1990, under the aegis of World Bank and GIIC (Gujarat Industrial Investment Corporation). He had been at the helm of the fund since inception.

GVFL, which targets early stage companies, manages approximately Rs 133 crore ($26-27 million) in five funds. 


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Ankit Kothari . 6 years ago

That’s a shocking news!

He was not only a pioneer VC but also a prolific teacher and motivator. His narration of anecdotes was amazing. He was very much down-to-earth and used to mingle with people so well. His contribution to entrepreneurship is matchless and I’m sure many people would be inspired by him. ! May his soul rest in peace.

My deep condolences to the bereaved family..

Roshan Shah . 6 years ago

My firm Gloscon went through a due diligence process with Vishnu in 2007 when we were a startup. He has done a lot in space of Venture Capital in India.

Gujarat has certainly lost a true contributor to the growth of entrepreneurship in state.

Roshan Shah

CEO – Gloscon

Founder, Gujarat Startups, Kosansh, Kukarma

supriyo gupta . 6 years ago

Heard with shock and grief about the passing of Mr Varshney. Every time I met him over the few years we worked together, I was impressed by his passion, his acumen and interest, the pride he took in his work and that he invested in companies which were quite different from the mould. He took pride over and over again in the fact that GVFL was the only VC that invested at the seed stage. I have seen him take paternal interest in the companies he invested in. May his soul rest in peace. My deep condolences to the family.

Deepak I. Shahdadpuri . 6 years ago

Vishnu was a true pioneer, selfless and passionate about entreprenuership. Will be missed.

Bharat Kanani . 6 years ago

This was a great shock to me, I worked with him for 8 years and have learnet many business concepts and realities, he is the one who has made my and many more professionals life, I am fortunate to see him at the last moments. He was considering me as his son and accordingly I have lost my father. May his soul rest in peace.

Arvind Sood . 6 years ago

Very sad to hear about Vishnu. I have known him since our IIT Kanpur days , he was 2 yrs senior to me. A live wire, full of humour always. He lived life king size. My heart goes out to his family.

R.L.Kabra . 6 years ago

I had occasion to deal for a client company of mine for take over process through investment dilution by GVFL and met him few years back and proud to say that Mr Varshney was a true professional dealing in the interest of GVFL and he not only founded the company but nurtured through out by keeping market pace and Gujarat in Particular lost a dedicated officer and the Venture capital industry lost a Guruin him.

My heartfelt condolences to his family and May his soul rest in peace.


Chartered Accountant, Mumbai

Vishal . 6 years ago

It’s very shocking, he was a true mentor. I took his advice time to time . And he always advice like a senior and guide to move in right direction.

My deep condolences to the bereaved family, we all will remember him all time.

Vishal Gupta



Seena Nair . 6 years ago

We are deeply pained by the sad news of Mr. Varshney’s untimely demise. For all of us at IAES- USIEF Satellite Center, Ahmedabad, he was like a father figure whose guidance and presence meant so much. He was a source of inspiration and a pillar of strength during challenging times.

Our heartfelt condolences to his family. May God give his family all the strength to bear this profound loss. Prayers for his soul to rest in peace!

RapidRadio . 6 years ago

“We have lost an excellent mentor, thinker, teacher, adviser, book lover, a tireless man; and above all a sincere admirer of entrepreneurship”. Person who always believed in supporting teams when they just had ideas on paper… A visionary with an acute instinct to judge projects, He will always be remembered in our successes…

Jaydeep . 6 years ago

I share same things with you…

Vinod Kalkotwar . 6 years ago

Very sad news indeed. VC industry in India has lost a gem of a person.

I interacted with Mr. Vishnu Varshney for raising venture capital for couple of my clients. A true professional with lots of concern for entrepreneurs.

May his soul rest in peace. My heartfelt condolences for the family.

Former GVFL MD & CEO Vishnu Varshney Passes Away

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