Bengaluru-based Yali Capital launches Rs 810 crore Deeptech Venture Fund

Bengaluru-based Yali Capital today announced the launch of its Rs 810 crore venture fund, which includes a Rs 310 crore greenshoe option. 

Co-founded by Ganapathy Subramaniam (Gani), former CEO of Cosmic Circuits, and Mathew Cyriac, Executive Chairman of Florintree, The fund will support early-stage deeptech startups in India.

Yali Capital aims to invest in innovative areas such as chip design, robotics, genomics, smart manufacturing, aerospace, AI and other such sectors with deep tech as its base.

Who is Ganapathy Subramaniam?

Gani began his career at Texas Instruments before co-founding Cosmic Circuits. He was also Chairman of Cirel Systems. Cosmic Circuits and Cirel Systems were one of the first homegrown, successful Indian Semiconductor product companies.

He also serves on the board of companies such as ideaForge and Galaxeye.

"We believe India is inherently strong in deep tech. As a country, we have 40 years of high-quality chip design experience. India is also very strong in robotics and is now gaining ground in genomics, smart manufacturing, etc.," said Ganapathy Subramaniam, Founding Managing Partner of Yali Capital.

"Yali's limited partners consist of top tech executives from India and the USA and with our collective experience, we believe we can lay a strong foundation for deep tech companies from India," Subramaniam said.

Who is Mathew Cyriac?

Mathew, who is the founder of Florintree Advisors, has been credited for playing an important role in taking deep tech companies such as MTAR, Data Patterns, and ideaForge public.

"I see strong opportunities in homegrown deep tech companies in sectors such as aerospace, imaging, instrumentations and several other emerging areas. We are also honoured to have Lip-Bu Tan, Ex CEO of Cadence, who achieved 78 times shareholder return during his tenure, as an advisor to Yali Capital. His valuable experience will be instrumental to us," said Mathew Cyriac, Founding General Partner of Yali Capital.

Notably, Yali Capital has already approved investments in four deeptech startups and expects to complete these investments by the third quarter of 2024.