KITVEN Fund-3 (Biotech)

KITVEN Fund-3 (Biotech) is a SEBI-registered Alternative Investment Fund (AIF) with a target corpus of Rs. 35.55 crore, established to invest in biotechnology and allied sectors within the state of Karnataka, India. The fund is managed by Karnataka Asset Management Company Pvt Ltd and is backed by state and central government institutions, including Karnataka Innovation and Technology Society (KITS), Small Industries Development Bank of India (SIDBI), Karnataka State Industrial Investment and Development Corporation (KSIIDC), and Biotechnology Industry Research Assistance Council (BIRAC).

The fund primarily invests in early-stage and growth-stage companies, providing funding ranging from Rs. 1 crore to Rs. 3.5 crore per company during the initial stage, with potential follow-on investments up to Rs. 5 crore. Investments are made in the form of equity, preference capital (convertible/redeemable), debentures, or a combination of these instruments, adhering to guidelines issued by the Securities and Exchange Board of India (SEBI). The typical investment horizon is 3-5 years, though shorter periods may also be considered.

KITVEN Fund-3 (Biotech) has a history of investing in various biotechnology companies, including Pandorum Technologies Pvt Ltd, String Bio Pvt Ltd, Vipragen Biosciences Pvt Ltd, JIVA Sciences Pvt Ltd, Fibroheal Woundcare Pvt Ltd, Alepa Dairy Foods Pvt Ltd, and NESA Medtech Pvt Ltd. These investments span diverse areas within the biotechnology sector, such as tissue engineering, sustainable chemicals, contract research services, bovine semen sorting technology, advanced wound care management, dairy production, and medical device technologies. The fund's strategic focus is on fostering innovation and growth in the biotechnology industry within Karnataka, contributing to the state's economic development and technological advancement.