Yali Capital sets up Rs 8,100 crore deep tech venture fund

BENGALURU, India, July 15, 2024 /PRNewswire/ — Yali Capital has announced the launch of a venture fund of INR 8,100 crore (including a greenshoe option of INR 3,100 crore). Co-founded by Ganapathy Subramaniam (Gani), former CEO of Cosmic Circuits, and Mathew Cyriac, Executive Chairman of Florintree, the fund will back early stage deep tech startups in India.

Yali Capital seeks to invest in deep tech-based innovative sectors such as chip design, robotics, genomics, smart manufacturing, aerospace and AI.

“We believe India is inherently strong in deep tech. As a country, we have 40 years of experience in high-quality chip design. India is also very strong in robotics and is now gaining ground in genomics, smart manufacturing, and more. Yali's limited partners consist of top technology executives from India and the US, and we believe our collective experience will enable us to lay a strong foundation for deep tech companies in India,” said Ganapathy Subramaniam, founding managing partner at Yali Capital.

Mr. Gani began his career at Texas Instruments before co-founding Cosmic Circuits and serving as Chairman of Cirel Systems, one of India's first successful home-grown semiconductor product companies. He also serves on the boards of companies such as ideaForge and Galaxeye.

“We see significant opportunities for domestic deep tech companies in sectors such as aerospace, image processing, instrumentation and several other emerging areas. We are also honored to have Lip Vu Thanh, former CEO of Cadence, who delivered a 78x shareholder return during his tenure, as an advisor to Yari Capital. His valuable experience will be beneficial to the firm,” said Mathieu Chiriac, founding general partner at Yari Capital.

Founder of Florintree Advisors, Mathew is credited with playing a key role in taking deep tech companies such as MTAR, Data Patterns and ideaForge public.

Lip Bu Thanh, advisor to Yali Capital, said, “India is very strong in deep tech due to the emphasis on STEM in its education system. I have backed many deep tech companies in the US led by CEOs of Indian origin. I would like to work with Yali Capital to create globally recognized deep tech companies from India.” Through his funds, Lip Bu Thanh has led over 130 deep tech companies to IPO around the world. He is Chairman of Walden International and sits on the boards of companies such as Intel and Schneider Electric.

Yali Capital has already approved investments in four deep tech companies and is on track to complete these investments by Q3 2024. With a strong focus on India's deep tech potential and backed by industry veterans, Yali Capital is poised to play a pivotal role in shaping India's deep tech innovation landscape.

About Yali Capital:

Yali Capital is a SEBI approved Category 2 AIF. The target raise is Rs 500 crore with an additional Rs 310 crore as greenshoe option. Yali Capital also has a dedicated GIFT City vehicle for seamless participation by foreign investors. Yali will focus on India as its geography and Deep Tech as its thematic focus. Chip design will be the primary focus area with robotics, smart manufacturing, genomics, aerospace and AI being the other focus areas. For more information, please visit https://yali.vc/

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