KITVEN Fund-3 (Biotech) is a SEBI registered Venture Capital Fund having target corpus of Rs. 35.55 crore. The Fund proposes to undertake investments in companies catering to Biotechnology and such other allied sectors within the State of Karnataka. Currently, the Fund has received commitment from State and Central Government firms/ institutions like Karnataka Biotechnology & Information Technology Services (KBITS), Small Industries Development Bank of India (SIDBI) and KSIIDC BIRAC.
KITVEN Fund-3 (Biotech) undertakes investment in the range of Rs. 100 lakhs to Rs. 350 lakhs per company during the initial stage which can be enhanced upto Rs. 500 lakhs per company at a later stage / follow-on investment.
The investment in companies will be in the nature of equity, preference capital (convertible/ redeemable), debentures OR combination of any of the above instruments adhering to the guidelines issued by the Securities & Exchange Board of India (SEBI) from time-to-time. The typical investment horizon would be 3-5 years although lower periods would also be considered.
As the IP/ product development life cycle is longer in most of the biotechnology firms, the fund also seeks to co-invest along with other reputed VC / investment firms. Investment will be undertaken only in startup companies as defined in Gazette Notification GSR 180(E) dated 17.02.2016 and as amended from time-to-time.
Investment Committee Members of KITVEN Fund-3 (Biotech) inculde :-
|Shri Prashant Kumar Mishra, IAS||MD, KITS|
|Shri Arun Krishnan||nFactorial Analytical Sciences|
|Dr. Subir Basak||Management Consultant/ Executive Advisor to Biotech & Pharma units|
|Shri G S Krishnan||Managing Director, Novozymes South Asia Pvt Ltd|
|Shri Seetharam Annadana||Veg R&D APAC Technology Leas, Syngenta|
|Shri Utpal S Tatu, PhD||Dept. of Biochemistry, IISc, Bangalore|
|Shri Dr Jagadish Mittur||Head, BFC, KITS|
|Shri A R Jayakumar||CEO, KAMCO|
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