Yali Capital closes maiden deeptech fund at Rs 893 Crore

Venture capital firm Yali Capital has closed its first deeptech-focused fund at ₹893 crore ($103.2 million).

Launched in July last year with a target of ₹810 crore, the fund will support early-stage startups in areas like chip design, robotics, genomics, smart manufacturing, aerospace, and AI.

Yali Capital has raised funds from major companies like Infosys, Qualcomm Ventures, DPIIT’s Fund of Funds for Startups, and Evolvence, among others.

Notable individual investors include TVS Capital founder Gopal Srinivasan, Rare Enterprises CEO Utpal Sheth, and JM Financial MD Vishal Kampani.

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The SEBI-approved Bengaluru-based firm, registered as a Category 2 AIF, initially aimed to raise ₹500 crore with a ₹310 crore greenshoe option.

“We are deeply grateful for the overwhelming support from the global tech community. Two-thirds of the fund will be deployed in early-stage deep tech startups. We firmly believe in India’s deep tech potential and are committed to backing visionary founders with patient capital,” said Ganapathy Subramaniam, Founding Managing Partner of Yali Capital.

About Yali Capital

Yali Capital was founded by Ganapathy Subramaniam (cofounder of Cosmic Circuits) and Mathew Cyriac (former Blackstone executive).

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Subramaniam has over 15 years of experience in the semiconductor industry at Texas Instruments. After leaving TI, he founded Cosmic Circuits. He has also personally invested in listed drone company ideaForge and deeptech startups like Tonbo Imaging and Aurasemi through Celesta Capital.

Yali Capital has invested in five startups so far, including genomics startup 4baseCare, robotics company Perceptyne Robots, and chip design firm C2i Semiconductors. It aims to grow its portfolio to eight startups by the end of the year.