Asiana Fund and JC Capital Launch ₹1,000 Cr Deeptech Fund

Asiana Fund and Taiwan-based venture capital firm JC Capital have launched a ₹1,000 crore fund to invest in Indian deeptech startups. The Asiana-JCC Advanced Manufacturing & Innovation Fund will focus on sectors like advanced manufacturing, semiconductors, and aerospace.

According to the partners, the fund comprises a primary corpus of ₹600 crore and a greenshoe option of ₹400 crore. Sponsors from Asiana Fund and JC Capital will collectively commit more than 20% of the total fund corpus.

Investment Strategy and Target Sectors

The fund will primarily invest in startups at the Series A and Series B stages. It plans to build a portfolio of 12 to 15 companies and will reserve a portion of its capital for follow-on investments.

The targeted investment sectors are outlined in the table below.

Beyond Capital: Strategic Partnerships

Beyond providing capital, the fund aims to act as a bridge between Indian startups and Taiwan's technology ecosystem. The partnership plans to facilitate technology transfers, connect portfolio companies with global supply chains and strategic partners, and assist with manufacturing scale-up and international expansion.

JC Capital stated that more than 80% of its investors are corporate limited partners across the US, Japan, Taiwan, and Malaysia. The VC firm said this network would help portfolio startups access technology partners, supply chains, and international markets.

Background of the Fund Partners

Asiana Fund is the investment platform of the Dani Family Office. Founded in 2017, it has deployed over ₹700 crore across 11 private equity investments. Its portfolio spans advanced manufacturing, robotics, drones, medtech, and cleantech.

The platform was founded by Asian Paints co-promoter Jalaj Dani, who is also the chairman of aerospace startup EndureAir and robotics startup Addverb.

JC Capital, launched in 2019, has invested more than ₹1,000 crore across 30 startups. Its investment portfolio focuses on semiconductors, artificial intelligence, and clean technology.

Broader Market Context

The fund's launch aligns with Indian government initiatives to boost domestic semiconductor and electronics manufacturing. These include the India Semiconductor Mission and production-linked incentive schemes.

At the Semicon India 2026 event, Electronics and IT Minister Ashwini Vaishnaw said global companies had committed around ₹1 lakh crore under the Semicon 2.0 initiative. US-based Applied Materials also committed to investing $5 billion in India over the next decade to expand its research and engineering presence.