During the fifth Bengaluru GAFX in 2024, the Karnataka Information Technology Venture Capital Fund (Kitven) revealed a specialized venture capital fund of Rs 20 crore for the animation, visual effects, gaming, and comics (AVGC) industry.
This innovative program, run by the Karnataka government’s Department of IT, Bt & ST, aims to fund businesses in the state that make comics, games, animation, and visual effects, as reported by CXOtoday.
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The statement was given during the panel discussion titled “Investor Speak – Strategies for Staying Relevant and Resilient in the Indian Gaming Startup Ecosystem” by Shri P V Harikrishnan, CEO of Karnataka Information Technology Venture Capital (KITVEN) Fund.
Karnataka Information Technology Venture Capital Fund (KITVEN Fund) is a State & Central Government financial institutions backed Venture Capital Fund (VCF) operating in the State of Karnataka since 1999.Â
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Karnataka Information Technology Venture Capital (KITVEN) Fund focused on investments in seed/ rapid growth opportunities within the State of Karnataka and assisted in a wide spectrum of companies catering to the Information Technology, Bio-Technology, and other high-end products/ solutions in the knowledge-based sector.
About Karnataka Information Technology Venture Capital (Kitven)
Prominent organizations including Karnataka State Financial Corporation (KSFC), Karnataka State Industrial and Infrastructure Development Corporation Limited (KSIIDC), Small Industries Development Bank of India (SIDBI), Karnataka Bio-technology & Information Technology Services (KBITS), etc. subscribed to the fund.
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