Beyond Bengaluru Cluster Seed Fund for Startups — KITVEN | Wisefolio

Beyond Bengaluru Cluster Seed Fund for Startups

Cat I · Managed by Kitven

Empowering Startups Through Government Venture Capital

SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.

Overview

About

Beyond Bengaluru Cluster Seed Fund for Startups (IN/AIF1/22-23/1224) is a Category I AIF – Venture Capital Fund registered with SEBI on March 8, 2023, managed by KITVEN Fund (Karnataka Information Technology Venture Capital Fund) — a state-backed venture capital institution that has been operating in Karnataka since 1999. The fund targets a corpus of INR 75 crore and focuses on investments in early-stage IT, BT, ESDM, Semiconductor, AVGC and allied sector companies in three specific clusters: Mysuru, Mangaluru, and Hubballi-Dharwad — with the explicit mandate to expand the startup ecosystem beyond Bengaluru. The fund is sponsored by government institutions including Karnataka Innovation and Technology Society (KITS, committed INR 20 crore), Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC), Karnataka State Finance Corporation (KSFC), SIDBI, and profitable Karnataka PSUs (Hatti Gold Mines, Karnataka Renewable Energy Development, Karnataka Soaps & Detergents, Karnataka State Beverages Corporation, Mysore Sales International, Karnataka Power Transmission Corporation, and Karnataka State Minerals Corporation). Together with KITVEN Fund-5 (targeting INR 100 crore), the Beyond Bengaluru fund is expected to support 15–18 startups and generate 1,000–1,500 direct and indirect jobs. KITVEN Fund is headquartered at Khanija Bhavan, Race Course Road, Bangalore.

Investment philosophy

KITVEN Fund operates with a long-term investment approach focused on seed and early-stage companies in Karnataka's knowledge-based sectors — IT, biotech, and disruptive technology. Beyond Bengaluru specifically addresses the geographic concentration of startup capital in Bengaluru by channelling institutional venture capital to high-potential companies in Tier 2 and Tier 3 cities within Karnataka. The fund acts as a government-backed enabler, partnering with emerging companies to build commercial value for investors while catalysing employment and innovation in Karnataka's secondary cities.

Team29

P V Harikrishnan

Fund manager

SEBI Contact Person / Fund Manager

Post-graduate in Engineering, CAIIB, PGDBA

He holds post-graduate degree in Engineering, CAIIB and Post graduate diploma in Business Administration. He comes with more than 25 years of experience in Corporate & Investment Banking, Project appraisal, debt syndication, debt restructuring, across industry verticals.

Khushboo Goel Chowdary

Board

Managing Director, KSIIDC

IAS

S S Nakul

Board

MD, KSFC

IAS

Rahul Sharanappa Sankanur

Board

MD, KITS

IAS

S Sreepathy

Board

GM, SIDBI

Chidananda S Vatare

Board

ED, KSIIDC

Vishal R

Board

Secretary (FR), Finance Dept, Government of Karnataka

IAS

M S Babu

Board

Independent Director

Vinod Kalkotwar

Board

Independent Director

Sridhar Mitta

Advisor

MD of e4e Business Solutions, former Technology head of Wipro

Prakash Mutalik

Advisor

Founder & CEO of RelQ Software (acquired by EDS Corporation)

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF1/22-23/1224

RegisteredMar 2023 (3 years ago)

Valid untilPerpetual

Contact personA JAYAKUMAR

AddressKHANIJA BHAVAN 4TH FLOOR RACE COURS, BANGALORE, Bangalore, Karnataka, 560001

Investment manager

Kitven

Insights

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Disclaimer

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