Yali Capital, a SEBI-registered Category II Alternative Investment Fund (AIF), has closed its maiden deep tech-focused fund at ₹893 crore (~$104 million), significantly exceeding its original target of ₹500 crores and ₹310 crore greenshoe option.
The fund will invest across the early stage (Seed, Series A) and late stage (Series D and beyond) spectrum, with a sharp focus on deep tech sectors including semiconductors, AI, robotics, genomics, aerospace/surveillance, and smart manufacturing.
The firm has already made five investments, ranging from chip design to AI, and plans to expand its portfolio to eight companies by the end of the year.
Yali has already announced investments in companies such as C2I Semiconductor, 4basecare, and Perceptyne, and plans to continue actively deploying capital over the next four years.
Yali Capital’s Limited Partners (LP) base includes corporates like Infosys, Qualcomm Ventures, and Tata AIG, along with Funds of Funds such as DPIIT Fund of Funds for Startups (managed by SIDBI), Self-Reliant India Fund, Evolvence and Singularity FOF.
Yali Capital has raised capital from individuals including, Kris Gopalakrishnan (Pratithi), Gopal Srinivasan (Founder, TVS Capital), Vallabh Bhansali (ENAM), Utpal Sheth (CEO, RARE Enterprises), Vishal Kampani (MD, JM Financial), Sanjay Nayak (Co-Founder, Tejas Networks), Nambi Seshadri (former CTO, Broadcom Wireless), and C. Srinivasan (Co-Founder, Cosmic Circuits).
Lip-Bu Tan, veteran investor and advisor to Yali Capital, said, “I strongly believe in India’s deep tech capabilities. It is heartening to see the government, global corporations, and successful entrepreneurs come together to back Yali’s deep tech thesis. I look forward to supporting Yali in laying the foundation for India’s deep tech ecosystem.”
Mathew Cyriac, General Partner at Yali Capital, said, “Nearly a third of our fund will be invested in late-stage deep tech companies. India has a real opportunity to build globally competitive public companies in this space. We are grateful to the global investor community for backing our vision.”
Ganapathy Subramaniam, Founding Managing Partner of Yali Capital, said, “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.”
Yali Capital operates through a dual structure comprising a SEBI-registered AIF and a GIFT City-based feeder vehicle to attract global investors. Headquartered in Bangalore, Yali Capital’s leadership team also includes Karthik Madathil (Partner) and Sunil Patil (CFO).
