Yali Capital Raises $104 Million
Yali Capital, based in Bengaluru, has closed its ₹893 crore ($104 million) first-time deep-tech fund, surpassing its initial target of ₹500 crore along with a ₹310 crore greenshoe option. This is among the largest standalone deep-tech fundraises in India in 2025.
Organized as a SEBI-approved Category II Alternative Investment Fund with a GIFT City feeder vehicle for international investors, the fund received investment support from Infosys, Qualcomm Ventures, Tata AIG, DPIIT Fund of Funds, Singularity FoF, and angel investors such as Kris Gopalakrishnan (Pratithi Investments) as well as ideaForge founders.
Yali Capital, which was founded by Ganapathy Subramaniam and Mathew Cyriac, invests in early-stage (pre-seed to Series A) and late-stage (Series D+) startups with cheque sizes between $2 million to $10 million. Target sectors are semiconductor chip design, aerospace & surveillance, robotics, genomics, artificial intelligence, and smart manufacturing.
The fund has already made investments in C2i Semiconductors (semiconductor chip design), Perceptyne (robots), and 4baseCare (genomics) and expects to support 18 startups during its lifetime and close eight bets by the end of the year.
Yali Capital seeks to fill the financing gap for Indian sovereign deep-tech innovation, particularly in areas of national security relevance and next-generation manufacturing.
Co-founder Ganapathy Subramaniam said the fund will “blend patient capital with strategic input to enable Indian deep-tech firms to compete internationally.”
The decision reflects the growing confidence of institutional and strategic investors in India’s deep-tech ecosystem, which is rapidly being viewed as essential for long-term technological independence.
