Asiana Fund, an investment platform of Dani Family Office, and JC Capital, a venture firm from Taiwan, have joined forces to create a 100 billion rupee fund focused on the advanced technology and manufacturing ecosystem in India.
The fund, named Asiana-JCC Advanced Manufacturing & Innovation Fund, includes a principal capital of 60 billion rupees and a greenshoe option worth 40 billion rupees. It aims to invest in growth-stage companies based on intellectual property across sectors such as advanced manufacturing, robotics, semiconductors, computing and materials, sustainable development, aerospace, and defense.
The fund plans to attract 12–15 growth-stage companies, primarily in Series A and Series B rounds, with funds reserved for subsequent investments. According to the statement, the fund's focus will be on companies capable of building globally competitive businesses through their technological, engineering, and manufacturing capabilities in India.
Established in 2017 by Jalaj Dani, Asiana Fund is an investment platform oriented towards India and supported by the Dani family, who are co-founders of Asian Paints. Since 2017, Asiana has made over 70 billion rupee investments in 11 private equity deals. JC Capital from Taiwan has invested over 100 billion rupees in 30 companies since 2019. Both sponsors commit to allocating over 20% of the total fund size.
This partnership combines Asiana Fund's deep understanding of India's industrial and technological ecosystem with JC Capital's access to Taiwan's semiconductor and electronics ecosystem, as well as its network of global corporate partners.
JC Capital has experience investing in semiconductors, artificial intelligence, and clean technologies, while Asiana has accumulated expertise in advanced manufacturing, robotics, drones, medical technologies, and clean technologies.
The fund will also facilitate collaboration with the Taiwanese ecosystem, ensure the transfer of technology and know-how, connect companies with global supply chains and strategic partners, and support their entry into international markets.
Jalaj Dani, founder of Asiana Fund, stated: 'India is at a point where we can do more than just manufacture. We can design products here, create our own intellectual property, and build companies capable of competing in global markets. This is what our partnership with JC Capital is about.'
The fund's investment thesis aligns with the broader shift towards IP-driven manufacturing and technological capabilities in India.
Jim Chen, founder and managing partner of JC Capital, noted: 'India is moving towards an IP-based economy with growing opportunities in semiconductors, electronics, and advanced industrial technologies. This creates a strong opportunity to connect with the Taiwanese ecosystem. Through our partnership with Asiana, we aim to bring Indian founders closer to the technological companies, manufacturing capabilities, and industry networks that helped Taiwan build a globally competitive business.'