KITVENFunds

Karnataka Information Technology Venture Capital Fund -3 (BIOTECH) is a SEBI registered Alternative Investment Fund (AIF) with final corpus as Rs. 35.55 crore having SEBI Registration no. IN/AIF1/15-16/0195 dated 31 Dec 2015, 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 Biotechnology and such other allied sectors within the State of Karnataka. The investors to the Fund are State and Central Government firms/ institutions like Karnataka Innovation and Technology Society (KITS), Small Industries Development Bank of India (SIDBI), KSIIDC and BIRAC.

KITVEN Fund-3 (Biotech) undertakes investment in the range of Rs. 100 lakhs to Rs. 350 lakhs per company during the initial stage which can be enhanced upto Rs. 500 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.

As the IP/ product development life cycle is longer in most of the biotechnology firms, the fund also seeks to co-invest along with other reputed VC / investment firms. Investment will be undertaken only in startup companies as defined in Gazette Notification GSR 180(E) dated 17.02.2016 and as amended from time-to-time.