Yali Capital, a new venture fund specializing in deep technology, has launched its maiden fund aiming to raise Rs 810 crore, with an additional greenshoe option of Rs 310 crore. The fund is spearheaded by Ganapathy Subramaniam, previously with Celesta Capital, and Mathew Cyriac, former co-head of private equity at Blackstone India and executive chairman of Florintree Capital Partners. Lip-Bu Tan, chairman of Walden International, joins as a fund advisor, while Karthik Madathil, with extensive experience at Texas Instruments, joins as a partner.
During the fund’s launch, discussions highlighted the burgeoning interest in deep tech and semiconductors, driven by advancements in AI and notable successes like Nvidia. This growth trajectory positions India favorably for substantial advancements in these fields.
The fund founders, together with Tan, plan to collectively invest $15 million (Rs 125 crore) into the fund. Yali Capital aims to initially invest in four firms by September and intends to support a total of eight to ten firms, including subsequent investments.
Key sectors of focus for Yali Capital include genomics, smart manufacturing, chip design, robotics, aerospace, and AI. Approved by SEBI as a Category 2 Alternate Investment Fund (AIF), the fund aims to actively engage with portfolio startups to enhance product development and strategic initiatives.
The strategy involves leveraging investors’ expertise to foster growth and potential acquisitions by Western strategic players, emphasizing the fund’s proactive approach to driving long-term value for its portfolio companies.
