Yali Capital Closes ₹893 Crore Deep Tech Fund The fund will invest in both early-stage (Seed, Series A) and late-stage (Series D and beyond) startups, with a strong emphasis on deep-tech domains such as semiconductors, artificial intelligence, robotics, genomics, aerospace/surveillance, and smart manufacturing.
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Yali Capital, a SEBI-registered Category II Alternative Investment Fund (AIF), has announced the successful close of its maiden deep tech-focused fund at INR 893 crore (approximately USD 104 million), significantly surpassing its initial target of INR 500 crore and a INR 310 crore greenshoe option.
The fund will invest in both early-stage (Seed, Series A) and late-stage (Series D and beyond) startups, with a strong emphasis on deep-tech domains such as semiconductors, artificial intelligence, robotics, genomics, aerospace/surveillance, and smart manufacturing.
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 BIZ Experiencess 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."
To attract a global investor base, Yali Capital operates through a dual-structure setup, comprising the SEBI-regulated AIF and a feeder vehicle based in GIFT City. The firm has already made five investments, covering sectors like chip design and AI, and aims to expand its portfolio to eight companies by the end of the year.
Yali's Limited Partners (LPs) span a diverse and influential set of backers, including: Infosys, Qualcomm Ventures, Tata AIG; Funds of Funds such as DPIIT's Fund of Funds for Startups (managed by SIDBI), Self-Reliant India Fund, Evolvence, and Singularity FOF; Prominent Individuals such as Kris Gopalakrishnan (Pratithi), Gopal Srinivasan (TVS Capital), Vallabh Bhansali (ENAM), Utpal Sheth (RARE Enterprises), Vishal Kampani (JM Financial), Sanjay Nayak (Tejas Networks), Nambi Seshadri (ex-CTO, Broadcom Wireless), and C. Srinivasan (Cosmic Circuits).
Mathew Cyriac, General Partner at Yali Capital, stated: "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."
Yali has already disclosed investments in companies including C2I Semiconductor, 4basecare, and Perceptyne. The fund intends to continue deploying capital actively over the next four years.
Ganapathy Subramaniam, Founding Managing Partner of Yali Capital, added, "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."
