Exfinity Venture Partners.
Bengaluru: Argus Partners has advised Exfinity Technology Fund Series II on its exit from Kinara AI Private Limited and Kinara Inc., following the merger of Kinara Inc. with NXP USA Inc., a global semiconductor company headquartered in the Netherlands.
Exfinity Technology Fund Series II, a scheme of Exfinity Technology Fund, exited its investment pursuant to the completion of the cross-border merger, marking a significant liquidity event for the deeptech-focused fund.
Argus Partners advised Exfinity on all legal aspects of the exit. The transaction team comprised partners Pallavi Kanakagiri and Ashwin Krishnan, along with senior associate Siddharth Malakar.
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Pallavi Kanakagiri (L) Ashwin Krishnan (R), of Argus Partners.
Kinara is known for developing high-performance, energy-efficient and programmable discrete neural processing units, and operates at the intersection of artificial intelligence and semiconductor technology.
Commenting on the development, Chinnu Senthilkumar, Managing Partner at Exfinity, said the exit marked an important milestone for the fund. “With this exit, we are returning 40% of our fund, and we will be touching a DPI of one, meaning we will have returned our entire fund. This validates our thesis in deeptech,” he said.
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