Lip-Bu Tan
Chip-industry executive and Walden founder who backs Indian semiconductor startups
Lip-Bu Tan took part in 2 disclosed rounds in Indian startups in 2026 (0 as lead), most often Seed rounds in Mobility & Logistics; its latest was Ultraviolette on 27 September 2026.
About Lip-Bu Tan
Lip-Bu Tan is the founder and chairman of Walden International and a long-time semiconductor executive. He has put money into a handful of Indian chip-related firms, joined the board of Ittiam, and took part in an xSi Semiconductors round with the Indian Angel Network. Walden also planned a $100 million India semiconductor startup fund in 2013.
Investment thesis
- Backs semiconductor and chip-IP startups
- Joins boards of firms he invests in
- Walden planned about $2M cheques in low-power chip startups
Stages
Sectors
Typical cheque: About $2M per Walden startup (2013 plan)
Team
Deals in 2026
| Date | Company | Round | Amount | Role | Co-investors | Story |
|---|---|---|---|---|---|---|
| 27 September 2026 | UL Ultraviolette | Series E | $85M | Participant | Yali Capital, TDK Ventures | Story |
| 17 September 2026 | HT | seed | $53M | Participant | Xora Innovation, Mayfield, Aramco Ventures (India deals), Sanjay Mehrotra, Jerry Yang | Story |
Stage and sector mix
Disclosed rounds Lip-Bu Tan took part in, by stage and by sector.
| Stage | 2026 | 2025 |
|---|---|---|
| Seed | 1 | 0 |
| Series D+ | 1 | 0 |
| Sector | 2026 | 2025 |
|---|---|---|
| Mobility & Logistics | 1 | 0 |
| Professional & Local Services | 1 | 0 |
Frequent co-investors
| Investor | Rounds together |
|---|---|
| Aramco Ventures (India deals) | 1 |
| Jerry Yang | 1 |
| Mayfield | 1 |
| Sanjay Mehrotra | 1 |
| TDK Ventures | 1 |
| Xora Innovation | 1 |
| Yali Capital | 1 |
Best bets in India
Indian portfolio
- BA
BankBazaarFinancial Services · 2026 · Led - E4E4EOtherWalden India deal named in coverage
- HT
Hang Ten SystemsProfessional & Local Services · in at Seed · 2026
- IS
Ittiam SystemsAI & deep tech · 2001Walden investment; Tan on board from 2013
- QB
Quatrro BPOOtherWalden India deal named in coverage
- ULUltravioletteMobility & Logistics · in at Series D+ · 2026
- XS
xSi SemiconductorsAI & deep tech
India-based companies only. Linked names have a StopDown page; the rest link up on their own as soon as we cover them.
Lip-Bu Tan in the news
- ULUltraviolette · Funding · 27 September 2026 · $85MUltraviolette bags $85 million to fuel global EV expansionUltraviolette designs and manufactures high-performance electric motorcycles, scooters, and advanced battery systems with aviation-inspired engineering
- HTHang Ten Systems · Funding · 17 September 2026 · $53MHang Ten Systems raises $53M seed extensionHang Ten helps large companies adopt AI for software projects and business functions
- BABankBazaar · Results · 7 January 2026BankBazaar narrows losses, revenue up 33% in FY25BankBazaar runs an online marketplace where users check credit scores and apply for credit cards, loans, and insurance
Read next: companies in the portfolio
Questions about Lip-Bu Tan
How many investments did Lip-Bu Tan make in India in 2026?
StopDown has recorded 2 disclosed rounds in Indian startups with Lip-Bu Tan in 2026 so far, 0 of them as lead. The latest was Ultraviolette on 27 September 2026 ($85M).
Which sectors does Lip-Bu Tan invest in?
In the 2025 and 2026 rounds StopDown recorded, Lip-Bu Tan invested most often in Mobility & Logistics (1 round) and Professional & Local Services (1 round). Its stated focus: AI & deep tech and Industrial & manufacturing.
Does Lip-Bu Tan lead rounds?
In the 2 rounds StopDown recorded in 2025 and 2026, Lip-Bu Tan joined as a participant; none named it as the lead.
What is Lip-Bu Tan's first cheque size?
Lip-Bu Tan's typical cheque, as it states it: About $2M per Walden startup (2013 plan).
Sources: avcj.com · blog.ventureintelligence.com · voicendata.com · ittiam.com · wikipedia.com · checked 2026-10-18