At Rs 893 crore, or around $103.2 million, venture capital firm Yali Capital closed its first deeptech-focused fund. In July of last year, Yali Capital announced an early-stage fund worth Rs 810 crore to support deeptech firms.
According to a news statement from Yali Capital, the fund plans to invest in businesses in the chip design, robotics, genomics, smart manufacturing, aerospace, and artificial intelligence industries.
Corporates like Infosys, Qualcomm Ventures, the DPIIT Fund of Funds for Startups, and Evolvence are just a few of the companies that have contributed money to the venture capital business. Notable investors include Vishal Kampani, managing director of JM Financial, Gopal Srinivasan, founder of TVS Capital, and Utpal Sheth, CEO of Rare Enterprises.
Yali Capital, a SEBI-approved Category II AIF that was founded by Ganapathy Subramaniam and Mathew Cyriac, with an initial goal of about Rs 500 crore with a further greenshoe option of Rs 310 crore.
“China is well ahead in the deeptech space and has overtaken America. India has all the potential, from services to deeptech, but certainly has much distance to cover,” said Ganapathy Subramaniam.
Fabless chip design business C2i Semiconductors, robotics startup Perceptyne Robots, and genomics startup 4baseCare are among the five investments made by Yali Capital. By the end of the year, it intends to have eight companies in its portfolio.
