Yali Capital Launches Rs 810 Crore Fund with Focus on Deep Tech Startups
- Ganapathy Subramaniam and Mathew Cyriac launched Yali Capital, focusing on deep tech sectors like chip design and AI.
- Yali Capital targets Rs 810 crore, including a Rs 310 crore greenshoe option for additional capital.
- The fund emphasizes deep mentorship and support for deep tech startups through globally recognized LPs and advisors.
Ganapathy Subramaniam, who was with Celesta Capital, and Mathew Cyriac from the Blackstone Group have launched 'Yali Capital,' a deep tech-focused fund targeting a total pool of Rs 810 crore.
Subramaniam and Cyriac, and advisor Lip-Bu Tan, will collectively invest $15 million (Rs 125 crore) in Yali Capital. Karthik Madathil, bringing 30 years of deep tech industry experience, is joining as a partner in the fund.
“We are planning to provide deep mentorship for startups and we have put together globally recognized LPs and advisors. By September of this year, we would have invested in at least four startups,” Subramaniam said during the fund launch event in Bengaluru.
With an aim to create an ecosystem for deep tech companies, offering capital and business-building support, the fund plans to invest in approximately eight to ten firms initially and will also make follow-on investments from its current fund.
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“We see great potential in deep tech, especially with the advancement of AI we see big opportunity emerging in this space,” said Subramaniam.
In addition to the initial target of Rs 500 crore, the fund will include a greenshoe option of Rs 310 crore. This provision allows the fund to raise additional capital beyond the original target to meet higher-than-expected demand.
The Sebi-approved Yali Capital, a category 2 Alternative Investment Fund (AIF), targets investments in deep tech sectors like AI, chip design, robotics, genomics, smart manufacturing, and aerospace.
Edited by Harshajit Sarmah
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