Asiana Fund, JC Capital Launch ₹1,000 Cr Fund To Back Deeptech Startups

The Dani Family Office-backed Asiana Fund and Taiwan-based VC firm JC Capital have jointly launched a ₹1,000 crore fund to support deeptech startups. The Asiana-JCC Advanced Manufacturing & Innovation Fund comprises an initial ₹600 crore corpus and a greenshoe option of ₹400 crore. Over 20% of the fund's capital will be committed by sponsors from both Asiana Fund and JC Capital.

The fund aims to invest in 12 to 15 Series A and B startups in advanced manufacturing, robotics, semiconductors, materials, sustainability, and aerospace and defence sectors. The portfolio will focus on follow-on investments, and the fund's initial deal pipeline includes startups working on compound semiconductors, EV motion-control systems, secure silicon, smart grids, robotic vision, and optoelectronics.

In addition to capital, the fund will facilitate collaboration between Indian startups and Taiwan's technology ecosystem, assist with technology and know-how transfers, and connect portfolio startups with global supply chains and strategic partners. More than 80% of JC Capital's investors are corporate limited partners across the US, Japan, Taiwan, and Malaysia, which will help portfolio startups access technology partners, supply chains, and international markets.

Asiana Fund, founded in 2017, has deployed over ₹700 crore across 11 private equity investments, while JC Capital, launched in 2019, has invested over ₹1,000 crore in 30 startups across semiconductors, AI, and clean technology. The launch of the Asiana-JCC fund coincides with the Indian government's efforts to bolster semiconductor and electronics manufacturing capabilities through initiatives like the India Semiconductor Mission and production-linked incentive schemes.