Oncor Capital

Writing

Notes on what we are seeing across semiconductors, deep tech, energy and AI — what is working, what keeps failing for the same reason, and where we have changed our minds. Written for founders deciding whether to send us an email.

2026

NoteSep 12, 2026Oncor Capital4 min

India's Semiconductor Mission 2: The Long Game on Chip Self-Sufficiency

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NotesJul 21, 2026Akshay Jain2 min

Why we publish our thesis

We are new at this and the track record is short. A written thesis is the only honest thing we have to be judged on today.

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Artificial IntelligenceMay 12, 2026Arnav Jain2 min

Most AI companies are not deep tech

A wrapper with good taste is still a wrapper. The question we ask is what happens when the model underneath gets ten times better and free.

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SemiconductorsMar 8, 2026Akshay Jain2 min

Indian chipmaking does not need more capital. It needs more patient capital.

The design talent is here and the policy support is real. What is still missing is money willing to sit through a tape-out.

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In the press

Inc42Jan 21, 2026Anne Florentyna

Semiconductor Startup Sensesemi Raises INR 25 Cr To Build Edge AI Chips

Our first semiconductor position. Oncor participated in the INR 25 Cr seed round led by Piper Serica.

Read on Inc42 ↗

Thinking in public, so the thesis stays honest.

India's Semiconductor Mission 2: The Long Game on Chip Self-Sufficiency

Why we publish our thesis

Most AI companies are not deep tech

Indian chipmaking does not need more capital. It needs more patient capital.

Semiconductor Startup Sensesemi Raises INR 25 Cr To Build Edge AI Chips