Karsemven Fund

Karsemven Fund is a SEBI-registered venture capital fund with a corpus of Rs. 92.95 crore, established to invest in early-stage companies within the semiconductor, Electronics System Design & Manufacturing (ESDM), and embedded systems sectors in Karnataka, India. The fund is managed by Karnataka Asset Management Company Pvt Ltd and is backed by various state and central government institutions, including the Karnataka Innovation & Technology Society (KITS), Small Industries Development Bank of India (SIDBI), and Life Insurance Corporation of India (LIC).

The fund typically invests between Rs. 20 lakhs and Rs. 50 lakhs per company during the initial stage, with the possibility of increasing the investment up to Rs. 92 lakhs in subsequent stages. Investments are made in the form of equity, preference capital (convertible/redeemable), debentures, or a combination of these instruments, adhering to the guidelines issued by the Securities & Exchange Board of India (SEBI). The typical investment horizon is 3-5 years, though shorter periods may also be considered.

The advisory board comprises professionals with significant experience in industry, finance, management, science, and technology. Notable members include Shri Rahul Sharanappa Sankanur, IAS, Managing Director of KITS; Dr. Sridhar Mitta, Managing Director of e4e Business Solutions; Shri B V Naidu, former Director of STPI, Government of India; Shri Mike Shah, former Managing Director of Digital Equipments & Angel Investor; Shri S Devarajan, former Managing Director of Cisco India and TATA Elxsi; Shri Sanjay Anandaram, former Partner of VC Funds and Mentor to many Startups; and Shri P V Harikrishnan, Chief Executive Officer.

The fund has invested in several companies, including Graphene Semiconductor Services (P) Limited, which was acquired by L&T Technology Services; SenseGiz Technologies (P) Limited; Greendzine Technologies Pvt Ltd; CNB Technologies Pvt Ltd; AptEner Mechatronics Pvt Ltd; Open Appliances Pvt Ltd; Bellatrix Aerospace; Bionic Yantra Pvt Ltd; AlphaICS India Pvt Ltd; iCaltech Innovations Pvt Ltd; Calligo Technologies Pvt Ltd; Taqanal Energy Pvt Ltd; QUNU Labs Pvt Ltd; Prodigy Technovations Pvt Ltd; Pinaka Aerospace Solutions Pvt Ltd; and Remidio Innovative Systems Pvt Ltd.

For more information, visit the official website at https://www.kitven.in/funds/karsemven-fund or contact via email at info@kitven.com.