Yali Capital has announced the launch of its Rs 810 crore venture fund, which includes a Rs310 crore greenshoe option. The fund is co-founded by Ganapathy Subramaniam (Gani), former CEO of Cosmic Circuits, and Mathew Cyriac, Executive Chairman of Florintree, with the aim of supporting early-stage deep tech startups in India.
The fund will focus on investing in innovative areas such as chip design, robotics, genomics, smart manufacturing, aerospace, AI, and other sectors rooted in deep tech. “We believe India has a strong foundation in deep tech, with 40 years of high-quality chip design experience. The country is also excelling in robotics and making strides in genomics and smart manufacturing. Yali’s limited partners include top tech executives from India and the USA, and with our collective experience, we aim to build a robust foundation for deep tech companies in India,” said Ganapathy Subramaniam, Founding Managing Partner of Yali Capital.
Gani began his career at Texas Instruments before co-founding Cosmic Circuits. He has also served as Chairman of Cirel Systems, both being among the first successful homegrown Indian semiconductor product companies. Additionally, he serves on the boards of companies such as ideaForge and GalaxEye.
Mathew Cyriac, Founding General Partner of Yali Capital, added, “We see strong opportunities in homegrown deep tech companies in sectors like aerospace, imaging, and instrumentation. We are also honored to have Lip-Bu Tan, former CEO of Cadence, who achieved a 78-fold shareholder return during his tenure, as an advisor to Yali Capital. His valuable experience will be instrumental to us.” Mathew, founder of Florintree Advisors, has played a key role in taking deep tech companies like MTAR, Data Patterns, and ideaForge public.
Advisor to Yali Capital, Lip-Bu Tan, remarked, “Indians have excelled in deep tech due to a strong emphasis on STEM education.I have financed numerous deep technology firms run by Indian-origin CEOs in the United States.I am excited to partner with Yali Capital to help establish globally known deep technology startups from India.” Lip-Bu Tan, through his funds, has taken more than 130 deep tech companies to IPO globally. He is Chairman of Walden International and serves on the boards of companies such as Intel and Schneider Electric.
Yali Capital has already approved investments in four deep tech startups and plans to complete them by the third quarter of 2024. With a focus on India’s deep tech potential and the backing of industry professionals, Yali Capital is set to shape the country’s deep tech innovation landscape.
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