E146 - Inside a $1.1B Deep Tech, Cross-Border Fund 🚀 | Sriram Viswanathan (Founding Managing Partner, Celesta Capital)

The Desi VC with Akash Bhat

We had the privilege of hosting Sriram Viswanathan, Founding Managing Partner of Celesta Capital. Based in San Francisco, Celesta Capital is a global, multi-stage venture capital firm managing $1.1 billion in assets. The firm specializes in cross-border investments between India and the United States, with a focus on deep-tech. Since its inception in 2013, Celesta Capital has invested in over 100 companies including those in space-tech, bio-tech, artificial intelligence, drug discovery, semi-conductors, cloud infrastructure, imaging, construction, diagnostics among others.

Sriram Viswanathan has more than 30 years of technology business operations and venture capital experience. Prior to Celesta, Sriram was the founder of IndusAge Partners, a cross-border venture firm investing in companies in India-US corridor. Sriram spent nearly 20 years at Intel Corporation in various senior management roles, including VP of the Intel Architecture Group (IAG) and later as the VP of Intel Capital and General Manager of Intel’s Incubation and Innovation Group.

In this episode, we explore Sriram’s journey, from his time at Intel during its peak, where he first delved into deep tech, to his unique experiences intersecting with Hollywood. We explore building a winning organizational culture, Sriram’s core values, and how Celesta Capital reflects the shared principles of its four partners. Sriram shares insights into Celesta’s investment thesis, rooted in the operational expertise of its team, and offers lessons on what makes a successful venture capitalist, from the importance of relationships and authenticity to navigating leadership changes. We discuss the immense opportunities in deep tech, particularly in India, the impact of geo-politics and regulation on investing, and strategies for attracting LPs to deep tech funds. With advice on choosing the right VC partner, building with an exit mindset, and running efficient board meetings, this conversation is packed with valuable takeaways for founders, investors, and anyone navigating the world of deep tech and venture capital.

🎙️ Fun fact: Sriram also hosts @techsurge-deeptech podcast. Give it a listen!

⌛ Timestamps:

• 1. Episode Trailer | 00:00
• 2. Guest Introduction | 01:23
• 3. Episode Kickoff | 04:12
• 4. The secret behind longevity at Intel | 05:24
• 5. Why Intel bet big on deep tech | 08:51
• 6. How Intel evaluated deep tech in the 90s | 11:13
• 7. Convincing Steven Spielberg to use Intel's InTru3D for Shrek | 13:13
• 8. Building a culture of longevity in organizations | 17:08
• 9. Laying the foundation for a career in venture investing | 19:57
• 10. Traits of a successful venture capitalist | 23:58
• 11. The tough decisions in VC: leadership changes | 30:04
• 12. Why VC is about people and relationships | 32:32
• 13. Choosing the right VC partner over a big-name fund | 36:15
• 14. “Elon doesn’t run SpaceX” | 37:40
• 15. How to run efficient board meetings | 39:08
• 16. Authenticity as a superpower | 40:14
• 17. Celesta Capital’s investment philosophy | 41:40
• 18. The three pillars of a VC fund and founding Celesta Capital | 45:00
• 19. Key investment criteria at Celesta | 50:10
• 20. “Venture capital sucks” | 53:28
• 21. Why deep tech is a major opportunity in India | 58:25
• 22. How geo-politics and regulation shape investing in India | 01:01:21
• 23. Why LPs are excited & going long on deep tech | 01:03:55
• 24. Balancing returns across markets with different maturities (India & the US) | 01:05:40
• 25. Attracting new LPs to deep tech | 01:07:46
• 26. Building deep tech with an exit mindset | 01:11:45
• 27. Lessons learned from venture investing | 01:13:28
• 28. Sriram’s decision-making framework | 01:16:22
• 29. Episode Outro | 01:20:16

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