Mathew Cyriac, Founding General Partner of Yali Capital and founder of Florintree Advisors, emphasized the fund's focus on homegrown deep tech companies. "I see strong opportunities in aerospace, imaging, and instrumentation. We are honored to have Lip-Bu Tan, former CEO of Cadence, as an advisor," Cyriac noted.

Cyriac has played a significant role in taking deep tech companies like MTAR, Data Patterns, and ideaForge public. Lip-Bu Tan, a veteran who has taken over 130 deep tech companies to IPO globally, said, "Indians excel in deep tech due to a strong STEM education. I am keen to help Yali Capital create globally recognized deep tech companies from India."

Yali Capital, a SEBI-approved Category 2 AIF, aims to close at ₹500 crores with a ₹310 crore greenshoe option. It will feature a GIFT City vehicle for foreign investors and focus on chip design, robotics, smart manufacturing, genomics, aerospace, and AI sectors in India.

Yali Capital has approved investments in four deep tech companies, planning to finalize these by Q3 2024.

The fund, co-founded by Ganapathy Subramaniam, former CEO of Cosmic Circuits, and Mathew Cyriac, will support early-stage deep tech startups in India. "India has 40 years of high-quality chip design experience and strength in robotics, genomics, and smart manufacturing," said Subramaniam.

Subramaniam, with a career at Texas Instruments and co-founding Cosmic Circuits, serves on the boards of ideaForge and Galaxeye. He highlighted Yali Capital's limited partners from top tech executives in India and the USA.

Mathew Cyriac noted the significant opportunities in sectors like aerospace, imaging, and instrumentation and expressed gratitude for Lip-Bu Tan's advisory role.