Karnataka Information Technology Venture Capital Fund (KITVEN) has unveiled a dedicated Venture Capital (VC) fund of ₹20 crores for the Animation, VFX, Gaming, and Comics (AVGC) sector during a session at the Fifth Edition of Bengaluru GAFX, 2024.

Shri P V Harikrishnan, CEO of Karnataka Information Technology Venture Capital (KITVEN) Fund, made the announcement during the “Investor Speak - Strategies for Staying Relevant and Resilient in the Indian Gaming Startup Ecosystem” panel.

This initiative, under the Department of IT, Bt & ST, Government of Karnataka, is designed to invest in companies within the state contributing to Animation, Visual Effects, Gaming, and Comics.

Srivastav, Secretary General at the Skill Online Games Institute 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.”

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, said Kislay Shashwat, Principal VC at Lumikai.

Srivastav, Secretary General at the Skill Online Games Institute 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, he added.

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