Asiana Fund, Taiwan's JC Capital join hands for Rs 1,000 Cr fund

Asiana Fund, the investment platform of the Dani Family Office, and JC Capital, a Taiwan-based venture capital firm, have launched a Rs 1,000-crore fund focused on India’s technology and advanced manufacturing ecosystem.

The Asiana-JCC Advanced Manufacturing & Innovation Fund comprises a Rs 600-crore corpus, with a Rs 400-crore greenshoe option. It will invest in growth-stage, IP-led companies across advanced manufacturing and robotics, semiconductors and computing, materials and sustainability, and aerospace and defence.

The fund will target 12–15 growth-stage companies, primarily at Series A and Series B, with capital reserved for follow-on investments.

According to a statement, the fund will focus on companies where technology, engineering and manufacturing capabilities can create globally competitive businesses from India.

Founded in 2017 by Jalaj Dani, Asiana Fund is an India-focused investment platform backed by the Dani family, co-promoters of Asian Paints. Asiana has invested more than Rs 700 crore across 11 private equity investments since 2017. Taiwan's JC Capital has invested more than Rs 1,000 crore across 30 companies since 2019. The sponsors will commit more than 20% of the fund corpus.

The partnership brings together Asiana Fund's understanding of the Indian industrial and technology ecosystem and JC Capital’s access to Taiwan’s semiconductor and electronics ecosystem and its network of global corporate partners.

JC Capital has experience investing across semiconductors, AI and clean technology, while Asiana has built a track record across advanced manufacturing, robotics, drones, medtech and cleantech.

The fund will also facilitate collaboration with the Taiwan ecosystem, enable technology and knowhow transfer, connect companies with global supply chains and strategic partners, and support their expansion into international markets.

Asiana Fund Founder Jalaj Dani said, “India is at a point where we have an opportunity to do more than manufacture. We can design products here, build our own intellectual property, and create companies that can compete in global markets. That is what our partnership with JC Capital is about.”

The fund's investment thesis is aligned with the broader shift towards IP-led manufacturing and technological capability in India.

JC Capital Founder and Managing Partner Jim Chen said, “India is moving towards an IP-led manufacturing economy, with growing capabilities in semiconductors, electronics and advanced industrial technologies.

"This creates a strong opportunity to connect with Taiwan’s ecosystem. Through our partnership with Asiana, we want to bring Indian founders closer to the technology companies, manufacturing capabilities and industry networks that have helped Taiwan build globally competitive businesses.”