Karnataka Information and Biotechnology Venture Fund (KITVEN)
Founded in 1999, KITVEN is a state investor in startups in the Indian state of Karnataka. Major investment sectors include biotech, animation, visual effects, electronics, manufacturing, gaming and comics. Based in Bengaluru, the office is run by Karnataka Asset Management Company Private Limited.KITVEN has invested in more than 50 startups. In 2019, the VC invested in String Bio’s Series A round and joined the $2.2m seed round of smart lock startup Open App. Backed by state and central government financial institutions, the VC manages five funds: KITVEN Fund, KITVEN Fund 2, KITVEN Fund 3 Biotech, KITVEN Fund 4 and Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund).
