KITVEN (Karnataka Information Technology Venture Capital Fund) has launched a committed venture capital fund of Rs. 20 Crore for the Animation, Visual Effects, and Gaming & Comics (AVGC) sector. During the ‘Investor Speak – Strategies for Staying Relevant and Resilient in the Indian Gaming Startup Ecosystem’ panel discussion at the fifth edition of Bengaluru GAFX, 2024, PV Harikrishnan, CEO, KITVEN unveiled this auspicious launch.

The Kitven Fund-4 for AVGC intends to boost up the innovation & development in the AVGC sector by supplying strategic investments in companies contributing to animation, visual effects, gaming & comics in the Karnataka state. This flourishing initiative by KITVEN highlights the dedication of government to foster the inventive & technological prospective of the AVGC industry.

Industrial specialists and professionals have highly applauded the practical role of Karnataka in supporting the AVGC sector.

Srivastav, Secretary General of the Skill Online Games Institute, states, “Karnataka has always been a pioneer, and with this launch, the state has become the first in India to set up this funding by VCs to encourage the AVGC sector.” Also he highlighted the momentous prospective of online games for innovation & employment generation.

Kislay Shashwat, Principal VC at Lumikai, expresses “Kitven Fund-4 AVGC represents a crucial step towards fostering innovation and development in animation, visual effects, gaming, and comics”.

Vivek Ramachandran, VC from Matrix Partners and visiting faculty at the National Institute of Design, expressed his welcome for this fostering move and highlighted that that the launch is encouraging aspiring students and ideators to seize the opportunity to pursue their startup dreams.