Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund) is a SEBI registered Alternative Investment Fund having a corpus of Rs. 92.95 crore, having SEBI Registration no. IN/AIF1/13-14/0049 dated 30 April 2013, AIF, Category 1- Venture Capital Fund. The Fund Manager is Karnataka Asset Management Company Pvt Ltd. and the Trustees is Karnataka Trustee Company Pvt Ltd.. The Fund proposes to undertake investments in companies catering to Semiconductor, Electronics System Design & Manufacturing (ESDM), Electronics, Embedded Systems and such other allied sectors within the State of Karnataka. The investors to the Fund are State and Central Government firms/ institutions/ banks like Karnataka Innovation & Technology Society (KITS), Small Industries Development Bank of India (SIDBI), CanBank Venture Capital Fund (from Electronic Development Fund, Govt. of India), Life Insurance Corporation of India (LIC), Union Bank of India (UBI), Canara Bank, Punjab National Bank, Andhra Bank (merged Union Bank of India) and KSIIDC Ltd.
KARSEMVEN Fund undertakes investment in the range of Rs. 200 lakhs to Rs. 500 lakhs per company during the initial stage which can be enhanced upto Rs. 920 lakhs per company at a later stage / follow-on investment.
The investment in companies will be in the nature of equity, preference capital (convertible/ redeemable), debentures OR combination of any of the above instruments adhering to the guidelines issued by the Securities & Exchange Board of India (SEBI) from time-to-time. The typical investment horizon would be 3-5 years although lower periods would also be considered.
