Yali Capital Raises $104 Million in Debut Deep Tech-Focused Fund

Yali Capital, a deep tech-focused venture capital firm, has closed its ₹893 crore (about $104 million) maiden fund.

- Rwit Ghosh

The firm had set out to raise ₹500 crore with a ₹310 crore greenshoe option but managed to raise more than that from its limited partners, which the founders see as a growing appetite for deep tech in India.

The firm raised 78% of its maiden fund from Indian firms and individuals, while the rest came from outside sources.

Yali Capital's investor base includes corporate entities like Infosys Ltd, Qualcomm Ventures, Tata AIG General Insurance Co. Ltd, Madhusudhan Kela's Singularity Fund of Funds, Kris Gopalakrishnan's family office Pratithi Investments and notable individuals like ideaForge founders Ankit Mehta and Rahul Singh.

"The involvement of family offices has been a significant tailwind. Their longer capital horizon does make them good partners for deep tech founders," said Vishesh Rajaram, managing partner at deep-tech venture capital firm Speciale Invest. "Many are moving beyond traditional sectors, actively co-investing in batteries, space, dual-use defense applications..."