About Company
Yali Capital
Yali Capital is a specialized, tech-first venture capital asset management firm headquartered in Bengaluru, with international investment operations run via its GIFT City platform. Co-founded by Ganapathy Subramaniam and Mathew Cyriac (Executive Chairman of Florintree), the firm brings together deep domain expertise in hard engineering alongside a proven track record of taking complex aerospace and industrial deep-tech firms public. Backed heavily by iconic global technology pioneers and sovereign-backed funds of funds, Yali Capital stands out in the venture landscape as a specialized conduit enabling global institutional capital to fund foundational technology and IP creation within India.
Fund Overview
The Yali Deeptech I GIFT City Fund is a highly specialized venture capital vehicle designed to capture the structural expansion of India’s hard-tech and deep-tech ecosystems. Formally launched by Yali Capital, the fund employs a dual-structure framework that combines a domestic SEBI-registered Category II Alternative Investment Fund (AIF) with a dedicated feeder vehicle out of GIFT City (IFSC). This GIFT City feeder acts as a seamless, tax-efficient channel for global tech executives, non-resident Indians (NRIs), and foreign institutions to pool international capital into high-growth, intellectual-property-driven Indian startups without navigating traditional onshore regulatory frictions.
Fund Snapshot
Data reflecting the fund close
| Feature | Details |
| Fund Structure | GIFT City Feeder Vehicle mapping into a SEBI Cat II AIF |
| Total Scheme Corpus | ₹893 Crore (Approx. USD 104 Million) at final close |
| Target Investment Stages | 70% Early-stage (Seed & Series A); 30% Late-stage (Series D+) |
| Core Sector Focus | Chip Design, AI Applications, Robotics, Genomics, and Aerospace |
| Regulatory Jurisdiction | IFSCA (GIFT City Authority) for global capital pooling |
| Typical Ticket Size | USD 2 Million to USD 10 Million |
| Key Backers & LPs | DPIIT Fund of Funds (SIDBI), Infosys, Qualcomm Ventures, Tata AIG |
| Existing Portfolio Highlights | C2I Semiconductor, 4baseCare, Perceptyne Robots |
Fund Philosophy
The fund’s core philosophy centers on "Patient Capital backed by Deep Operator Experience." Moving away from the high-volume, "spray-and-pray" strategies common in consumer internet investing, Yali Capital selectively commits to engineering-first, IP-led companies that require longer gestation and heavy R&D cycles. The vehicle emphasizes high technical screening, seeking out specialized or university-affiliated founders. By utilizing a hybrid early-and-late stage model, the fund’s philosophy spans the entire corporate life cycle—funding initial product validation and later stepping in with capital and execution frameworks to prepare mature, scaling deep-tech entities for public market listings.
The opportunity set expands significantly when you look beyond borders—but so does the complexity.
GIFT City structures are designed to simplify access, but selecting the right strategy still requires alignment with your portfolio’s goals, risk profile, and time horizon.
At AltPort Funds, take a more measured approach to global investing—one that prioritizes structure, relevance, and long-term positioning.
Begin building a portfolio that reflects not just where you are invested—but where opportunities truly lie.
Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Ganapathy Subramaniam
Ganapathy Subramaniam (commonly known as "Gani") is a veteran semiconductor executive and one of the pioneers of the homegrown hardware product ecosystem in India. He began his career at Texas Instruments before co-founding Cosmic Circuits, which grew into one of India’s first highly successful analog chip-design product companies. Subramaniam's deep engineering expertise directly shapes the fund’s core thesis on tech-led manufacturing, as he frequently works hands-on with portfolio companies on execution and hardware scaling rather than acting as a passive financial allocator.
Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
The GIFT City fund serves as an offshore feeder trust. Because it operates within a tax-neutral Special Economic Zone, it allows global investors and foreign institutions to invest US Dollars seamlessly, shielding them from the operational complexities and domestic tax compliance hurdles of investing directly in an onshore Indian AIF.
The fund explicitly deploys capital into sectors that require high-level engineering and scientific breakthroughs. This includes fabless chip design (semiconductors), hardware-software integration for robotics, genomics and precision cancer care, smart manufacturing systems, and aerospace/surveillance technologies.
Yali implements a structured 70/30 split. Seventy percent of the corpus is reserved for early-stage bets (with 45% going into first institutional rounds like Seed/Series A and 25% set aside for follow-on support). The remaining 30% is funneled purely into growth or late-stage tech companies (Series D and beyond) that have predictable revenues but need help scaling toward an IPO.
No. The fund’s mandate focuses purely on primary capital injections. This means every dollar invested through the GIFT City vehicle or the domestic AIF goes straight onto the balance sheets of the target startups to fund technical research, build infrastructure, and scale product lines, rather than buying out early investors.
The fund heavily leverages a network of elite global tech figures, most notably veteran semiconductor investor Lip-Bu Tan (former CEO of Cadence Design Systems and advisor to Intel). This global advisory layer assists the AMC in cross-border technical validation, helping ensure Indian deep-tech products meet international institutional standards.
Connect with our investment experts for personalized guidance, fund details, and support tailored to your financial needs.
Get In Touch
Disclaimer: Investing in AIF, PMS, Gift City or Mutual Fund is subject to market risk. Please read the related documents carefully. Past performance does not guarantee future results and there is no assurance that the managed accounts will necessarily achieve their objectives. Actual portfolios may differ as a result of account size, client-imposed investment restrictions, the timing of client investments and market, economic, and individual company factors. We at ALTPORT do not guarantee any returns in the hands of investors, nor do we take any sort of accountability for the performance of the scheme.