VC industry veterans launch Rs 810-cr deeptech-focused fund 'Yali Capital'

The managing partners Ganapathy Subramaniam, Mathew Cyriac and the fund's advisor Lip-Bu Tan, who is the chairmam of Walden International, will collectively invest $15 million into the fund.

The venture fund capital industry veterans Ganapathy Subramaniam, who was with Celesta Capital, and Mathew Cyriac of the Blackstone Group have launched 'Yali Capital', a deeptech-focused fund with a total target corpus of Rs 810 crore (including a Rs 310 crore greenshoe option).

"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 atleast four startups, " Subramaniam told during the fund launch event in Bengaluru.

The fund is a Sebi-approved category 2 AIF and aims to invest in areas such as chip design, robotics, genomics, smart manufacturing, aerospace, AI and other such sectors with deeptech as its base.

It has already approved investments in four deeptech companies and expects to complete these investments by the third quarter of 2024.

The fund will focus on creating an ecosystem for deeptech companies and help them in business building as well as provide capital, Cyriac said.

"We see great potential in deeptech, especially with advancement of AI we see big opportunity emerging in this space, " said Subramaniam.

The managing partners Ganapathy Subramaniam, Mathew Cyriac and the fund's advisor Lip-Bu Tan, who is also the chairmam of Walden International, will collectively invest $15 million into the fund.

Karthik Madathil, who has around 30 years of deeptech industry experience, is joining as a partner at Yali Capital.

"When we started talking about Yali, it is very important to see the way India is evolving, we are several years behind when it comes to innovation in deeptech in many areas. We at Yali want to be at the forefront and help these startups in business building as well," Mathew Cyriac of Yali said.