Yali Capital, a Bengaluru-based venture capital firm focused on deeptech, has closed its first fund at 893 crore rupee (US$103.2 million), surpassing its 500 crore rupee (US$57.8 million) target.

The firm will invest in early-stage startups, including seed and series A rounds, and may also back late-stage companies like those in series D and beyond.

Target sectors include semiconductors, AI, robotics, and genomics.

Backers include Infosys, Qualcomm Ventures, Tata AIG, and government-backed funds such as the DPIIT Fund of Funds for Startups and the Self-Reliant India Fund.

Prominent individuals like Infosys co-founder Kris Gopalakrishnan and Intel CEO Lip-Bu Tan also support the fund.

Yali Capital operates through a SEBI-registered AIF and a feeder vehicle in GIFT City.

It has already backed five startups, including C2I Semiconductor, 4baseCare, and Perceptyne, and plans to grow its portfolio to eight by the end of 2025.