Venture capital firm Yali Capital has announced the final close of its maiden deeptech-focused fund at ₹893 crore (approximately $103.2 million), surpassing its initial target of ₹810 crore. The fund was launched in July 2024 to support early-stage Indian startups driving innovation in cutting-edge technologies.
Backed by marquee investors such as Infosys, Qualcomm Ventures, the DPIIT Fund of Funds for Startups, and Evolvence, Yali Capital’s investor base also includes prominent industry figures like Gopal Srinivasan (TVS Capital), Utpal Sheth (CEO, Rare Enterprises), and Vishal Kampani (MD, JM Financial).
Founded by seasoned investors Ganapathy Subramaniam and Mathew Cyriac, Yali Capital is a SEBI-registered Category II AIF, and initially set out to raise ₹500 crore with a ₹310 crore greenshoe option. The fund will focus on deeptech sectors including chip design, robotics, genomics, smart manufacturing, aerospace, and artificial intelligence.
“China is well ahead in the deeptech space and has overtaken America. India has all the potential, from services to deeptech, but certainly has much distance to cover,” remarked Subramaniam, underlining the fund’s long-term vision for deeptech in India.
Yali Capital has already made five investments, including 4baseCare (genomics), Perceptyne Robots (robotics), and C2i Semiconductors (chip design). The fund aims to expand its portfolio to eight companies by the end of 2025, supporting startups at the cutting edge of innovation and global competitiveness.
With this significant close, Yali Capital joins a growing cohort of Indian VCs betting big on deeptech as the country looks to strengthen its footprint in future-facing technologies.
