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KARSEMVEN Fund, a state government-owned venture capital fund based in Karnataka, India, provides seed and venture capital to early-stage startups in the semiconductor, ESDM, and embedded systems sectors. The fund manages a corpus of Rs 96.15 crore (approximately $11.5 million USD), dedicated to fostering hardware and technology innovation within the state. By early 2015, KARSEMVEN had made at least three investments, notably a $500,000 allocation to wearables maker Sensegiz and $800,000 (Rs 4.95 crore) to Graphene Semiconductor Services Pvt Ltd. Sensegiz, founded by Abhishek Latthe, planned to manufacture 100,000 units from its Mysore facility; Graphene Semiconductor was established by six semiconductor industry veterans. Launched in fiscal year 2014-15, the fund was established by well-known veterans in the semiconductor industry.
Karsemven Fund has 2 tracked investments across 1 company. The latest tracked deal is $8.0M Series A in Bellatrix Aerospace in May 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| May 1, 2022 | Bellatrix Aerospace | $8.0M Series A | BASF Venture Capital, Venkat Vallabhaneni | Merak Ventures, Synthesis Capital, Mankind Pharma Family Office, Pavestone Capital, B. V. Naidu, Survam Partners |
| Jun 25, 2019 | Bellatrix Aerospace | $3.0M Pre-Series A | Jatin Desai, Karsemven Fund, B. V. Naidu, Survam Partners | Bellatrix Aerospace, CIIE, Growx Ventures, SINE IIT Bombay |
