Argus Partners advises Exfinity Technology Fund Series II on its exit from Kinara AI pursuant to its acquisition by NXP Semiconductors
We are pleased to announce that Argus Partners advised Exfinity Technology Fund Series II (a scheme of Exfinity Technology Fund) on its exit from Kinara AI Private Limited and Kinara Inc., pursuant to the merger of Kinara Inc. with NXP USA Inc., a global semiconductor company headquartered in the Netherlands. The transaction was valued at an aggregate consideration of USD 307 million.
Kinara is a leading developer of high-performance, energy-efficient and programmable discrete neural processing units. The acquisition strengthens and expands NXP’s portfolio of AI solutions for edge computing, particularly across industrial, IoT and automotive end markets.
Commenting on the exit, Chinnu Senthilkumar, Managing Partner at Exfinity, stated, “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,”.
This acquisition marks one of the largest deep-tech mergers and acquisitions from India, reinforcing the country’s growing prominence in the AI and semiconductor sectors.
The team at Argus Partners advising Exfinity Technology Fund Series II consisted of Pallavi Kanakagiri, Ashwin Krishnan (Partners) and Siddharth Malakar (Senior Associate).
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