Bengaluru-based VC firm Yali Capital has closed its inaugural deep‑tech fund at ₹893 crore (~USD 104 million)—surpassing its ₹500 crore target and the ₹310 crore greenshoe option.
Founded in 2023 by Ganapathy Subramaniam (ex‑Cosmic Circuits) and Mathew Cyriac (ex‑Blackstone India), the firm is designed to channel patient capital into India’s high‑tech frontier. A dual‑structure fund—comprising a SEBI‑registered AIF and a GIFT City feeder vehicleenables both domestic and global investor participation.
Deep‑Tech Thesis & Investment Focus
Yali will invest across early stages (Seed, Series A) and late-stage rounds (Series D+), centering on:
- Chip design
- Robotics
- Genomics
- Aerospace & surveillance
- Smart manufacturing & AI
To date, Yali has backed five startups including notable firms like C2I Semiconductor, 4baseCare, and Perceptyne, with plans to expand its portfolio to eight companies by year-end.
Strong Network of LPs & Advisors
The fund’s limited partners include global and India‑based investors such as Infosys, Qualcomm Ventures, Tata AIG, the DPIIT Fund of Funds, Self‑Reliant India Fund, and private equity names like Evolvence and Singularity FOF. Individual backers include Kris Gopalakrishnan, Gopal Srinivasan, Vallabh Bhansali, Utpal Sheth, C. Srinivasan, and tech veteran Nambi Seshadri.
Industry legend Lip‑Bu Tan (ex‑Cadence, Walden International) serves as advisor, further strengthening Yali’s deep‑tech credibility.
Why It Matters
India’s deep‑tech wave from chip design to biotech requires capital with patience, network access, and IP understanding. Yali Capital brings all three to the table. With one-third of funds earmarked for late-stage deals and two-thirds for early stage ventures, the firm is positioning itself to incubate India’s next gen of global tech champions.
As India steps up its ambition in semiconductors, AI, and aerospace, Yali’s fund launch could be a turning point in building homegrown deep‑tech leaders.
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