Kitven

Beyond Bengaluru Cluster Seed Fund for Startups (IN/AIF1/22-23/1224) is a Category I AIF – Venture Capital Fund registered with SEBI on March 8, 2023, managed by KITVEN Fund (Karnataka Information Technology Venture Capital Fund) — a state-backed venture capital institution that has been operating in Karnataka since 1999. The fund targets a corpus of INR 75 crore and focuses on investments in early-stage IT, BT, ESDM, Semiconductor, AVGC and allied sector companies in three specific clusters: Mysuru, Mangaluru, and Hubballi-Dharwad — with the explicit mandate to expand the startup ecosystem beyond Bengaluru. The fund is sponsored by government institutions including Karnataka Innovation and Technology Society (KITS, committed INR 20 crore), Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC), Karnataka State Finance Corporation (KSFC), SIDBI, and profitable Karnataka PSUs (Hatti Gold Mines, Karnataka Renewable Energy Development, Karnataka Soaps & Detergents, Karnataka State Beverages Corporation, Mysore Sales International, Karnataka Power Transmission Corporation, and Karnataka State Minerals Corporation). Together with KITVEN Fund-5 (targeting INR 100 crore), the Beyond Bengaluru fund is expected to support 15–18 startups and generate 1,000–1,500 direct and indirect jobs. KITVEN Fund is headquartered at Khanija Bhavan, Race Course Road, Bangalore.

KARSEMVEN Fund's investment philosophy targets the strategic semiconductor, ESDM, and electronics ecosystem within Karnataka — supporting the state's ambition to be a national leader in chip design, embedded systems, and electronics manufacturing. The fund prioritises companies with proven technology, strong IP or product differentiation, and a clear path to commercialisation within a 3–5 year horizon. Investments are in equity and equity-linked instruments to create long-term commercial value for government LPs and portfolio companies alike. KAMCO, with over 25 years of fund management experience across KITVEN vintages, brings deep domain networks and government policy access to support portfolio companies in building scalable businesses.