VC Funds under management
1. KITVEN Fund
2. KITVEN Fund - 2
3. KARSEMVEN Fund
Board & Advisory Members
Entrepreneurs seeking Venture Capital
Managers and Trustees
KITVEN Fund (Fully invested and divested)
Karnataka Information Technology Venture Capital Fund (KITVEN Fund) was an Rs.15.00 crore, Information Technology specific, SEBI registered, Venture Capital Fund launched during the year FY 1999-2000. The Fund received subscriptions from premier financial institutions namely Karnataka State Industrial and Infrastructure Development Corporation Limited (KSIIDC - Rs.3.75 crore), Karnataka State Financial Corporation (KSFC - Rs.3.75 crore) and Small Industries Development Bank of India (SIDBI - Rs.7.50 crore). The Fund invested in 17 units aggregating to Rs.17.56 crore typically during the early stage with investment size of Rs.50 lakhs to Rs.150 lakhs.
KITVEN Fund has liquidated its entire investment (17 units) and returned the corpus of Rs.15.00 crore along with substantial profits to subscribers in proportion to their subscription. The portfolio units assisted by KITVEN Fund is as under :-
1. RelQ Software (P) Limited (Exited - Acquired by EDS Corporation, USA)
The company was providing Software Validation & Verification, Quality Assurance Services to Information Technology companies world wide. The Fund exited fully after acquition by EDS Corporation, USA.
2. Logix Microsystems Limited (Exited during IPO )
The company provides Business Solutions, Enterprise Products, Automotive Solutions, etc. The company is listed in the Bombay Stock Exchange (BSE) & National Stock Exchange (NSE). The Fund has fully divested its investment after IPO.
3. Cerebra Integrated Technologies Limited (Exited during IPO)
The company provides total IT solutions for both Hardware and Software. The company is listed in the Bombay Stock Exchange (BSE). The Fund has fully divested its investment from this Company after IPO.
4. iLantus Technologies (P) Limited (Transfered to KITVEN Fund 2)
ILANTUS is a leading global solutions provider offering end-to-end Solutions in the area of Identity Management, User Provisioning and other Security Solutions.
5. ECAD Technologies Limited (Exited - Acquired by AT&S, Austria)
The company was providing high performance design engineering services to the PSB industries, EDA and CAE space. The Fund has fully divested after acquisition by AT&S, Austria.
6. Internet Componenet Management Group (P) Limited (Exited - Buyback by Promoters)
The company has developed products (K2 Server) for enterprises to adopt Component Architecture based on CORBA Component Model (CCM)and for Corporate eLearning (Component Educational Server) for enterprises. The company is also rendering training in Enterprise IT Architecture
7. iTwine Technologies (P) Limited (Exited - Strategic Acquisition)
The company is offering solutions in the areas of SCM Consulting, Logistics, Distribution & Transportation, Re-Engineering etc. The Fund has fully divested after acquisition by Strategic Partner.
8. Winfoware Technologies Limited (Exited - Buyback by Promoters)
This is a Software Services company specialized in the areas of operating systems, communications and middleware components for voice / data convergence communications.
9. Indegene Lifesystems (P) Limited (Exited - Strategic Investment)
The company is leader in the Healthcare Network and is providing services to Pharmaceutical companies, medical cummunities, clinical trails, drug database etc. The Fund has fully divested post strategic investment.
10. InKnowTech (P) Limited (Exited - Buyback by the Company)
The company is leveraging its services to the Enterprises, IT and Telecom Service Providers with Global presence in the areas of Remote Network Management, Facility Management, Help Desk Management, System Integration, etc.
11. Opus ABS India (P) Limited (Exited - Buyback by the Promoters)
OPUS ABS provides integrated Business Process & IT Outsourcing solutions to the telecoms and utilities industry, SaaS, etc.
12. Comat Technologies (P) Limited (Exited - VC Investment)
The company is leveraging its services in the ITES-BPO space. The company's focus are in the areas of eGovernance, Legal & Healthcare processing. The Fund has fully divested its investment after the company received VC investment.
13. 24x7 Learning (P) Limited (Exited - VC Investment & Promoter buyback)
24x7 Learning is one of the largest eLearning Implementation and Consulting Company. It specializes providing Enterprise Learning Platforms (offline/online learning, etc). It is serving as backbone for some of corporate India’s best run Virtual Corporate Universities. 24x7 Learning creates, manages and runs these Virtual Corporate Universities and offers the client end-to-end solution. The Fund has substantially exited after the Company received VC Funding.
14. Brickwork India (P) Limited (Exited - Buyback by Promoters)
The company offers Knowledge Process Outsourcing (KPO) Services in the areas of Market Research, Financial Research, Analytics, Legal Services & Remote Executive Assistance. Brickwork is founded by Mr. Vivek Kulkarni, former IT Secretary, Govt. of Karnataka. The Fund has fully divested after the Promoters offered to buy back the investment.
15. Telibrahma Convergent Comm. (P) Limited (Exited - VC Investment)
TELiBrahma works with product companies and service providers around the world to enhance the benefits of mobility with specific focus and strategy helping them reduce the risk and cost associated with development . It delivers "Productized Services" backed with proactive value proposition in terms of technology and business to customers. The company was successful in deploying solutions for mobile ticketing & logistics space. The Fund has fully exited after the Company received VC Funding.
16. Proteans Software Solutions (P) Limited (Exited - Acquired by CAMO/Symphony Services)
Proteans is an outsourcing company focusing on software product development and business application development on Microsoft Technology Platform. Proteans partners with Independent Software Vendors (ISVs), Application Service Providers (ASPs), System Integrators and IT teams of businesses to develop software products. The Fund has fully exited after CAMO Technologies acquired the company.
17. Thrulogic ITECH (India) Pvt. Limited (Exited - Liquidated)
Thrulogic was providing IT & ITES Services mainly to customers in the European market in the areas of internet applications, enterprise services, system integration, web/ portal services etc. The company has since been fully liquidated.
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