Asiana Scheme II
Advanced Manufacturing & Innovation Fund
The technology bridge India needs
The Advanced Manufacturing & Innovation Fund is a SEBI-registered Category II AIF, co-sponsored by Asiana Fund and JC Capital, Taiwan. It brings together Asiana’s understanding of building in India with JC Capital’s access to Taiwan’s semiconductor and AI ecosystem, creating a platform to bring technology, capability and capital into India’s next generation of advanced manufacturing.
Fund structure
Category II AIF
Fund Size
USD 105 Mn
Sponsor commitment
> 20% of corpus (min. USD 21 Mn)
Fund Tenure
8 years
2 x 1 year extensions if required
Focus areas of the fund
Investing in frontier and high-growth industries where
India is building genuine global competitive advantage.
Advanced manufacturing
Smart Industrial 4.0 automation, advanced precision component technologies, robotics & Physical AI, electronics and med-tech.
Semiconductors & computing
Next-gen AI core chip architectures, advanced logic and HPC development, semiconductors, data centre ecosystems and edge computing.
Materials & sustainability
Advanced materials, net-zero circular technology, storage technology and alternative energy systems.
Aerospace & defense
Aerospace components, strategic sovereign defense systems, drones and space tech.
Tech-enabled innovation
IP-led companies building differentiated industrial or consumer solutions with defensible moats.
The partnership powering the fund
Asiana was founded by Mr. Jalaj Dani, co-promoter of Asian Paints, India. Since 2017, it has deployed over USD 75 million across 11 private equity investments building deep operating expertise and an extensive network across India.
JC Capital, established in Taiwan in 2019, invests across semiconductors, AIoT and clean tech, with an AUM of over USD 100 million across 30 companies. It sits at the heart of the global AI ecosystem, with strong ties across Taiwan, South East Asia and the US. Together, we bring the scale, experience and connectivity to back the businesses shaping India's next era of advanced manufacturing.
Two complementary vantage points,
spanning India’s operating landscape
and Taiwan’s technology ecosystem.
Factors shaping the opportunity
Policy, capital and talent are converging to make India a deep-tech manufacturing power and this fund is built to move with that shift.
Structural shift to IP-led innovation
India's startup ecosystem is evolving from consumer internet toward science- and engineering-driven companies.
Government push for home-grown IP
Sovereign control of key technologies has driven initiatives including India Semicon mission (~$22Bn) & RDIF (~$11Bn) to encourage Indian IP.
Global supply chain realignment
Supply chain diversification is opening up tech and manufacturing realignment opportunities for India.
Deep-tech pipeline and engineering talent
India hosts 3,000+ deep-tech startups and produces one of the world's largest pools of engineering and research talent.
Funding gap at series A/B
A persistent funding gap exists for Indian deep-tech companies at critical growth stages.
Our distinctive edge
Five capabilities that extend the partnership’s value beyond capital, across markets, technology and portfolio growth.
Unmatched
networks in India
Decades-built corporate relationships through Mr. Dani and the advisory panel, complemented by a global bench of veteran technology experts.
Strong Taiwan ties with broad global access
Access to critical global supply chains and IP across the semiconductor value chain, with the ability to integrate capabilities cost-effectively.
India ecosystem
development
Investments aligned with India’s growth priorities, alongside participation in industry bodies and public-private initiatives shaping the ecosystem.
Superior corporate development support
Business-building expertise, mentoring and operating support, complemented by access to global partners and investors for portfolio collaboration.
Superior experience and focus on exits
Investment experience across automation, semiconductors and frontier technology in India and Taiwan. JC Capital has seen over 50% of its 22-company portfolio from its last fund successfully listed on public markets through 2026.
Venture into the
future
Considering a partnership with Asiana Fund?We're thrilled to explore potential collaborations. Fill in the details, and our team will get back to you shortly.
42/43, 4th Floor, Jolly Maker Chamber 2, 1/A, V. K. Shah Marg, Nariman Point, Mumbai 400021
Thanks for approaching Asiana Fund and showing your interest in partnering with us. Please give us time to review the information you provided and we shall get back soon. Regards Asiana Team