CrackingKarnataka's Kitven launches Rs 20 crore fund for AVGC sector
Karnataka Information Technology Venture Capital Fund (Kitven) unveiled a Rs 20-crore dedicated venture capital fund for the animation, visual effects, gaming and comics (AVGC) sector at the fifth edition of Bengaluru GAFX, 2024.
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Budget 2024Tune in for all updates on Interim Budget 2024Kitven CEO PV Harikrishnan announced during the 'Investor Speak - Strategies for Staying Relevant and Resilient in the Indian Gaming Startup Ecosystem' panel discussion. The initiative is designed to invest in companies within the state contributing to animation, visual effects, gaming and comics, the IT/BT department said in a press statement.
Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Product ManagementVisitSkill Online Games Institute secretary general Srivastav said, "Karnataka has always been a pioneer and with this launch the state has become the first in India to set-up a fund to encourage the AVGC sector. This is a recognition of the potential in the AVGC sector and especially the enormous potential of online games for innovation and employment generation. Students and aspirants in the AVGC sector can make use of this opportunity to make their start-up dreams a reality."Kislay Shashwat, Principal VC at Lumikai, expressed his appreciation for Karnataka's active role in nurturing the AVGC sector. "The launch of the Kitven Fund-4 AVGC represents a significant step towards fostering innovation and development in this field. This initiative not only highlights the government's commitment but also paves the way for potential growth and advancement in the sector," he said.Vivek Ramachandran, a VC from Matrix Partners and visiting faculty at the National Institute of Design, said, "I welcome the move and encourage aspiring students and ideators to utilize this opportunity to pursue their startup dreams."The Kitven Fund-4 (AVGC) is poised to play a transformative role in supporting startups and fostering innovation in animation, visual effects, gaming, and comics, further solidifying Karnataka's position as a leader in the sector.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesInvestments in firms will be in the form of equity, preferred capital (convertible/redeemable), debentures, or a combination, following the rules laid down by the Securities and Exchange Board of India. The fund considers shorter time frames while maintaining a normal investment horizon of three to five years, the statement added.
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Budget 2024Tune in for all updates on Interim Budget 2024Kitven CEO PV Harikrishnan announced during the 'Investor Speak - Strategies for Staying Relevant and Resilient in the Indian Gaming Startup Ecosystem' panel discussion. The initiative is designed to invest in companies within the state contributing to animation, visual effects, gaming and comics, the IT/BT department said in a press statement.
Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Product ManagementVisitSkill Online Games Institute secretary general Srivastav said, "Karnataka has always been a pioneer and with this launch the state has become the first in India to set-up a fund to encourage the AVGC sector. This is a recognition of the potential in the AVGC sector and especially the enormous potential of online games for innovation and employment generation. Students and aspirants in the AVGC sector can make use of this opportunity to make their start-up dreams a reality."Kislay Shashwat, Principal VC at Lumikai, expressed his appreciation for Karnataka's active role in nurturing the AVGC sector. "The launch of the Kitven Fund-4 AVGC represents a significant step towards fostering innovation and development in this field. This initiative not only highlights the government's commitment but also paves the way for potential growth and advancement in the sector," he said.Vivek Ramachandran, a VC from Matrix Partners and visiting faculty at the National Institute of Design, said, "I welcome the move and encourage aspiring students and ideators to utilize this opportunity to pursue their startup dreams."The Kitven Fund-4 (AVGC) is poised to play a transformative role in supporting startups and fostering innovation in animation, visual effects, gaming, and comics, further solidifying Karnataka's position as a leader in the sector.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesInvestments in firms will be in the form of equity, preferred capital (convertible/redeemable), debentures, or a combination, following the rules laid down by the Securities and Exchange Board of India. The fund considers shorter time frames while maintaining a normal investment horizon of three to five years, the statement added.