Beyond Bengaluru Cluster Seed Fund For Startups

Empowering Startups Through Government Venture Capital

Managed by Kitven

IN/AIF1/22-23/1224Cat I

SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.

Overview

About

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.

Investment Philosophy

KITVEN Fund operates with a long-term investment approach focused on seed and early-stage companies in Karnataka's knowledge-based sectors — IT, biotech, and disruptive technology. Beyond Bengaluru specifically addresses the geographic concentration of startup capital in Bengaluru by channelling institutional venture capital to high-potential companies in Tier 2 and Tier 3 cities within Karnataka. The fund acts as a government-backed enabler, partnering with emerging companies to build commercial value for investors while catalysing employment and innovation in Karnataka's secondary cities.

Team— 1

P V Harikrishnan

SEBI Contact Person / Fund Manager

P V Harikrishnan is the CEO and senior designated official at Karnataka Asset Management Company Private Limited, the investment manager of KARSEMVEN Fund and all KITVEN fund vintages.

Registration

SEBI Registration

SEBI-registered

Reg. NumberIN/AIF1/22-23/1224

VintageMar 2023 · 3 yrs old

Valid ToPerpetual

Contact PersonA JAYAKUMAR

AddressKHANIJA BHAVAN 4TH FLOOR RACE COURS, BANGALORE, Bangalore, Karnataka, 560001

Insights

No insights published yet.

Disclaimer

Investments in AIFs carry market and credit risk including possible loss of capital. Past performance does not indicate future returns. Information shown is sourced from the issuer's PPM and SEBI filings — confirm against the latest PPM before committing. wisefolio is an information platform; it is not registered with SEBI as an investment adviser, portfolio manager, or distributor. By using this page you accept our terms and privacy policy, including the self-attestation that you are eligible to view AIF marketing material under SEBI rules.