KITVENFunds

Karnataka Innovation and Technology Venture Fund -5 (KITVEN Fund-5) is a SEBI registered Category 1, Alternative Investment Fund (AIF) – Venture Capital Fund having target corpus of Rs.100 crore, vide SEBI Registration No. IN/AIF1/22-23/1237 dated 15 March 2023. 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 startups / SME companies catering to Artificial Intelligence, Machine Learning, MedTech, Electric Vehicles and such other Disruptive Technologies in the State of Karnataka. The Fund received commitment from State Government institutions.

Currently the Fund undertakes investment in the range of Rs. 2 - 3 crore per company during the initial stage which can be enhanced at a later stage / follow-on investment.

The investment in companies will be in the nature of equity and equity related instruments like preference capital, 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. Substantial portion of the funds would be enmarked for startups from tier-2/ 3 cites and women entrepreneurs. Startups having Certificate of Recognition issued by DPIIT, Govt. of India will only be considered. The typical investment horizon would be 3-5 years although lower periods would also be considered.