Karsemven Fund

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.

Advisory Members

The Fund also has outside professionals who are persons of emminence in the field of industry, finance, management, science & technology etc. Many of these professionals have successfully led large companies in past and have entrepreneurial expertise in driving companies from idea stage to IPO/M&A. The Advisory (Investment Committee) Members of KARSEMVEN Fund inculde :-
Name Designation
Shri Rahul Sharanappa Sankanur, IAS MD, KITS
Dr. Sridhar Mitta MD of e4e Business Solutions, former Technology head of Wipro
Shri B V Naidu former Director, STPI, Govt. of India
Shri Mike Shah former MD of Digital Equipments & Angel Investor
Shri S Devarajan former MD of Cisco India and MD of TATA Elxsi
Shri Sanjay Anandaram former Partner of VC Funds, Mentor to many Startups
Shri P V Harikrishnan Chief Executive Officer

Portfolio Units

1. Graphene Semicondcutor Services (P) Limited (Exited - Acquired by L&T Technology Services)

Graphene Semiconductors is a rapidly growing company offering product development and sustenance services to global customers in the Semiconductor, Embedded Products and soft-IP business space.Founded by well-known veterans in semiconductor industry with multiple years of experience in engineering services sector, the company is on a mission to be the premier organization in offering an eco-system of service offerings that fulfil the needs of all business under one roof.
More info at ::   Graphene Semiconductor Services

2. SenseGiz Technologies (P) Limited

SenseGiz is a startup focusing on wearable tech & IoT products which customers can use in their daily lives. The company designs and produce innovative products named FIND (can be used to track misplaced things like keys, bags, pets, phones etc.) and STAR (fitness and safety at the same time, accurately & reliably)
More info at ::   SenseGiz Technologies

3. Greendzine Technologies Pvt Ltd

The company is developing affordable green technology solutions and product and is pioneer in smart electric mobility solutions.
More info at ::   Greendzine Technologies

5. CNB Technologies Pvt Ltd

CNB Technologies has created container yard management solutions by combining extensive R&D with deep domain expertise from large scale global clients
More info at ::   CNB Technologies

6. AptEner Mechatronics Pvt Ltd

BluSnap (product of the company) is a battery-operated air-cooler that attaches a rider’s full-face helmet and cools the interior through evaporative cooling.
More info at ::   AptEner Mechatronics Pvt Ltd

7. Open Appliances Pvt Ltd

Open Appliances Pvt Ltd, a startup which makes smart locks for firms. Open App’s smart lock solution acts as a Wi-fi access point, emitting its own signal, which enables a smartphone in a remote location to connect to its network and then operate it.
More info at ::   Open Appliances Pvt Ltd

8. Bellatrix Aerospace

Several decades have passed ever since the first rocket reached space. Even today, the cost of space travel is exorbitantly high. Bringing down the cost of access to space will change our lives. Space is the gateway to the future of mankind. Humanity will soon take a giant leap.
More info at ::   Bellatrix Aerospace

9. Bionic Yantra Pvt Ltd

Bionic Yantra™ is India’s first medical robotics company. Bionic Yantra makes PRODUCTS for the SPECIALLY-ABLED and LESS-ABLED. The Robotic Exoskeleton Assisted Rehabilitation Systems (REARS) accelerates the rehabilitation considerably (reduction to 1/3rd the time) and enables standard therapeutic procedures across regions and hospitals. Company has partnered with Shirley Ryan Ability Labs, USA (one of the leading rehab centre in the world) for developing world class robotic systems for global market. A truly Made-in-India product.
More info at ::   Bionic Yantra Pvt Ltd

10. AlphaICS India Pvt Ltd

“Aplha ICs India Pvt Ltd” has developed a next generation processor based on a proprietary architecture. The chip is designed for accelerating AI workloads, and is highly scalable for mobile devices and data centres as well.
More info at ::   Aplha ICs India Pvt Ltd

11. iCaltech Innovations Pvt Ltd

“iCaltech Innovations Pvt Ltd” is a system engineering organization, which designs and develops high quality medical devices.
More info at ::   iCaltech Innovations Pvt Ltd

12. Calligo Technologies Pvt Ltd

“Calligo Technologies Pvt Ltd” is focused on development of products and solutions to HPC, Big Data, AI/ML segments. The products developed by Calligo are oriented towards multiple industry segments, solving real world problems.
More info at ::   Calligo Technologies Pvt Ltd

13. Taqanal Energy Pvt Ltd

“Taqanal Energy Pvt Ltd” is providing connected energy management solutions for electric vehicles, driving away from the fossil fuels and for stationary energy storage sectors.
More info at ::   Taqanal Energy Pvt Ltd

14. QUNU Labs Pvt Ltd

“QUNU Labs Pvt Ltd” is offering quantum based cryptography, encryption and communication services, making data safer and resistant to future attacks.
More info at ::   QUNU Labs Pvt Ltd

15. Prodigy Tecnhnovations Pvt Ltd (Exited – Buyback by Company, Promoters and Others)

Prodigy Technovations offers industry-leading advanced protocol validation solutions for testing and validating emerging and mainstream serial bus technologies in new- generation System-on-Chip (SoC) designs. With over a decade of experience, we drive innovation by actively contributing to industry standards.
More info at ::   Prodigy Technovations

16. Pinaka Aerospace Solutions Pvt Ltd (Exited – Strategic investment b y ZETWERK)

Pinaka Aerospace Solutions Private Limited is a services and solutions provider in the field of Avionics, Electronic Warfare and Communication systems started in 2007. The company has in its team, people with technical and managerial expertise with ability to deliver end-to-end, concept to product realization.
More info at ::   Pinaka Aerospace Solutions Pvt Ltd

17. Remedio Innovative Systems Pvt Ltd (Exited – Strategic investment by Sun Pharmaceuticals)

Remidio is an innovative ISO 13485 certified medical device company that seeks to create Healthcare Access by combining the simplicity of product design with cutting edge technology and sustainable business model innovations.
More info at ::   Remedio Innovative Systems Pvt Ltd