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Yali Capital’s ‘Gani’ On Building A Deeptech Investment Thesis For India
- Bengaluru-based Yali Capital is a INR 810 Cr ($100 Mn) fund with a focus on deeptech investing across six major verticals including chip design, robotics, space, aerospace, and AI.
- Yali will put money in a maximum of 15 India-headquartered companies, with nearly a quarter of its fund earmarked for chip design.
- The fund's founders include semiconductor industry veterans Ganapathy Subramaniam, co-founder Cosmic Circuits, and Mathew Cyriac, formerly co-head of Blackstone India.
- Yali's third partner is Lip-Bu Tan, who has considerable experience as Cadence Design Systems' former CEO, a nominee of Walden International's chairman and a board member at Schneider Electric and Intel, among others.
- Recently, Yali Capital invested in the genomics start-up 4baseCare, robotics start-up Perceptyne Robots and fabless chip design firm C2i Semiconductors.
- Yali recognised the challenges in the deeptech space, notably the potentially long exit horizon, high gestation period, blind networks and the complexities of the sector.
- One prominent characteristic of this investment will be patience on the part of the investors, paired with a willingness to create solutions to product and IP maturity hurdles.
- Subhramaniam has expressed his confidence in India's emerging deeptech entrepreneurial scene.
- He also noted that companies need around four to five years to develop products and brands, while chips with 20-28 nanometer capacity are likely to be the first made in India.
- There is unlikely to be much room for new companies in the spacetech space, which is already dominated by a few top-performing companies, Subhramanian said.
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