Karnataka’s KITVEN launches ₹20 crore VC fund for AVGC sector

Karnataka Info Expertise Enterprise Capital Fund (KITVEN) has unveiled a devoted Enterprise Capital (VC) fund of ₹20 crores for the Animation, VFX, Gaming, and Comics (AVGC) sector throughout a session on the Fifth Version of Bengaluru GAFX, 2024.

Shri P V Harikrishnan, CEO of Karnataka Info Expertise Enterprise Capital (KITVEN) Fund, made the announcement in the course of the “Investor Converse – Methods for Staying Related and Resilient within the Indian Gaming Startup Ecosystem” panel.

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This initiative, below the Division of IT, Bt & ST, Authorities of Karnataka, is designed to put money into firms throughout the state contributing to Animation, Visible Results, Gaming, and Comics.

Srivastav, Secretary Basic on the Ability On-line Video games Institute stated “Karnataka has at all times been a pioneer and with this launch the state has change into the primary in India to set-up a fund to encourage the AVGC sector. It is a recognition of the potential within the AVGC sector and particularly the big potential of on-line video games for innovation and employment era. College students and aspirants within the AVGC sector could make use of this chance to make their start-up desires a actuality.”

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The launch of the KITVEN Fund-4 AVGC represents a major step in the direction of fostering innovation and improvement on this subject. This initiative not solely highlights the federal government’s dedication but additionally paves the way in which for potential development and development within the sector, stated Kislay Shashwat, Principal VC at Lumikai.

Srivastav, Secretary Basic on the Ability On-line Video games Institute stated “Karnataka has at all times been a pioneer and with this launch the state has change into the primary in India to set-up a fund to encourage the AVGC sector.”

It is a recognition of the potential within the AVGC sector and particularly the big potential of on-line video games for innovation and employment era. College students and aspirants within the AVGC sector could make use of this chance to make their start-up desires a actuality, he added.