Asiana Fund and Taiwan-based VC firm JC Capital have launched the ₹1,000 crore Asiana-JCC Advanced Manufacturing & Innovation Fund to back deeptech startups. The fund has a primary corpus of ₹600 crore and a ₹400 crore greenshoe option, targeting Series A and B startups in sectors like advanced manufacturing, robotics, semiconductors, materials, sustainability, aerospace, and defence, according to inc42.com.
The sponsors from Asiana Fund and JC Capital will commit over 20% of the corpus. The fund aims to build a portfolio of 12 to 15 startups, reserving some capital for follow-on investments. Its initial deal pipeline includes startups working on compound semiconductors, motion-control systems for electric vehicles and robotics, secure silicon, smart grids, robotic vision, and optoelectronics. The fund also plans to facilitate collaboration between Indian startups and Taiwan’s technology ecosystem.
This partnership leverages Asiana Fund’s expertise in India’s industrial and technology sectors with JC Capital’s network in Taiwan’s semiconductor and electronics industry. The fund intends to support technology and know-how transfers, connect portfolio companies with global supply chains and strategic partners, and assist with manufacturing scale-up and international expansion. JC Capital’s investors include corporate limited partners from the US, Japan, Taiwan, and Malaysia.
The Asiana-JCC Advanced Manufacturing & Innovation Fund’s launch marks a significant addition to India’s deeptech funding landscape, with a focus on sectors critical to advanced manufacturing and technology innovation. The fund’s sponsors have committed more than 20% of the corpus, highlighting their confidence in the growth potential of the targeted startups.