Celesta Capital Research Document
Overview
Celesta Capital is a global deep tech venture capital firm founded in 2013 and headquartered in Silicon Valley. The firm has over a decade of experience investing in physics-defying and code-rewriting breakthroughs that power technology advancement. With $1.1 billion in assets under management, Celesta has made 100+ investments to date with 43 exits, demonstrating strong operational track record and return generation.
Investment Thesis
Celesta invests in brilliance at the forefront of science and engineering, targeting companies that enable mass adoption of emerging tech, radically improve health outcomes, and transform large industries. The firm is characterized by hands-on partnership and intellectual capital contribution, not just capital deployment.
The firm's approach emphasizes:
- Extensive global C-suite experience from team members with deep backgrounds in building technology at scale
- Seasoned serial entrepreneurs who understand founder challenges firsthand
- Full-stack technical expertise enabling deep technical due diligence
- Unrivaled network access across Silicon Valley, India, Canada, Israel, and emerging tech hubs
Three Primary Investment Use Cases
Celesta targets three interconnected categories of innovation:
1. Platforms Enabling Mass Adoption of Emerging Technologies
Companies driving the adoption curve for emerging technologies by optimizing cost and performance through next-generation hardware and software development:
- Semiconductors - from chiplets to AI accelerators
- Intelligent Hardware Systems - edge computing, robotics, autonomous systems
- AI Applications - applied AI with real-world deployment
- Cloud Infrastructure - next-gen data center and network infrastructure
2. Bioconvergence Innovations
Systems-level change at the intersection of high-tech and biotech, merging biological science with hardware and AI/ML:
- Drug Discovery - precision medicine, genomics-driven approaches
- Diagnostics - point-of-care and molecular diagnostics
- Imaging - next-generation medical and sensing imaging
- Therapeutics - CRISPR, cell therapy, and biotech applications
3. Technologies Transforming Large Industries
Hardware and AI-enabled technologies disrupting legacy industries with low tech adoption:
- Construction - robotics and AI for construction automation
- Retail - AI and digital transformation
- Agriculture - precision agriculture and agritech
- Healthcare - digital health, remote care platforms
- Education - EdTech and skill development
Geographic Focus
Celesta is an active cross-border investor bridging Silicon Valley with strategic global markets:
- Primary: Silicon Valley, US - core tech ecosystem access
- Strong: India - expanding portfolio concentration from 15% to 25%+, with dedicated in-country team
- Strong: Israel - long track record of deep tech investments
- Selective: Canada, Europe - targeted geographic expansion
The firm has over $1B AUM deployed across these corridors, with 110+ total investments demonstrating true global reach.
Stage Focus and Check Size
Preferred Stages: Seed and Series A, with selective pre-seed for exceptional founders
- Pre-Seed: $250K-$500K for prototype development with exceptional technical teams
- Seed: $1M-$3M for companies with working demos and early traction
- Series A: $8M-$20M for companies with product-market fit and demonstrated adoption
Typical Check Size: $1M-$20M range with average $10-50M deployment across fund lifecycle
Investment Approach: Celesta typically leads or co-leads rounds, positioning for board seats and active operational involvement. The firm maintains follow-on reserves (approximately 50% of fund) for supporting portfolio winners through subsequent rounds.
Lead Tendency
Lead: Primarily leads rounds with deep conviction in technical differentiation and founder teams. The firm positions as hands-on operating partner from first check through scaling.
Recent Activity and Fund Status
Fund Status: Actively deploying from Fund II and III with strong momentum
- Founded 2013, 10+ years active in space
- Latest notable investment: Agnikul (November 2025) - space tech
- Recent (2025-2026) highlighted investments across semiconductors, AI infrastructure, biotech, and space/defense
Recent Activity Highlights:
- September 2025: Launched India Deep Tech Investment Alliance with $1B+ total capital commitments
- Multiple Q4 2025 / early 2026 investments across portfolio
- Strong portfolio momentum with exits across IPOs (Credo, Quantenna, Volta Industries, VeriSilicon, Robinhood, IdeaForge, Berkeley Lights) and acquisitions
- Active acquisition/M&A trajectory with 43 exits to date on 100+ investments
Notable 2025-2026 Portfolio Activity:
- AI infrastructure: SambaNova Systems (AI inference for data centers), Normal Computing (thermodynamic computing)
- Hardware/Semiconductors: PowerLattice (power delivery for AI/HPC), Eliyan (chiplet interconnect), Tensordyne (multimodal GenAI inference)
- Space/Defense: Agnikul (micro/nano satellite launches), Tonbo Imaging (defense/mission-critical imaging)
- Biotech: Normal Computing, 1Cell.ai (precision oncology), WhiteRabbit.ai (breast cancer detection), Prellis (synthetic tissues), Alveo (diagnostics)
- Enterprise: Upscale AI (AI networking), WEKA (hybrid cloud platform), SambaNova Systems
Team and Leadership
Founding Managing Partners (4):
- Nicholas Brathwaite - Founding Managing Partner, extensive deep-tech background
- Michael Marks - Founding Managing Partner
- Sriram Viswanathan - Founding Managing Partner, key technical voice
- Lip-Bu Tan - Founding Managing Partner
Investment Partners (10):
- Anand Chandrasekaran - Managing Partner
- Arun Kumar - Managing Partner (USA/India based)
- Steve Fu - Partner
- Terry Gilton - Partner
- David Goldman - Partner
- Charles Lespérance - Partner (Canada)
- Sudhir Rao - Senior Partner (India)
- Anita Rehman - Partner (India)
- Robin Clewley - Partner, Investor Relations
- Matthew Marsh - Managing Partner, CFO
Team Credentials:
- 40+ businesses started by investment team members
- 250+ negotiated and sourced M&A deals
- 600+ patents created across team
- Deep cross-border expertise in Silicon Valley, India, Israel, Canada
Summary
Celesta Capital is a disciplined, operator-led deep tech venture firm with over a decade of track record creating and scaling exceptional companies. The firm combines financial strength with genuine technical and operational expertise, making it an ideal partner for ambitious technical founders building companies at the frontier of semiconductors, AI, biotech, space, and advanced manufacturing. With global reach, deep domain knowledge, and commitment to supporting founders through extended development cycles, Celesta represents a best-in-class deep tech investor.