Based on our experimental and theoretical studies, we report the identification of the quaternary Heusler alloy, CoRuVSi as a new member of the recently discovered spin semimetals class. Spin polarised semimetals possess a unique band structure in which one of the spin bands shows semimetallic nature, while the other shows semiconducting/insulating nature. Our findings show that CoRuVSi possesses interesting spintronic and thermoelectric properties. It crystallizes in perfect cubic structure with a partial L21-type disorder at room temperature. Magnetization data reveal a weak ferri-/antiferro magnetic ordering at low temperatures, with only a very small moment ∼ 0.13 µB/f.u., attributed to the disorder. Transport results provide strong evidence of semimetallicity dominated by two-band conduction, while magnetoresistance data show a non-saturating, linear, positive, magnetoresistance. Spin polarization measurements using point-contact Andreev reflection spectra reveal a reasonably high spin polarization of ∼ 50%, which matches fairly well with the simulated result. Furthermore, CoRuVSi shows a high thermopower value of 0.7 mW att/m − K 2 at room temperature with the dominant contribution from the semimetallic bands, rendering it as a promising thermoelectric material as well. Our ab-initio simulation not only confirms a unique semimetallic feature, but also reveals that the band structure hosts a linear band crossing at ∼ -0.4 eV below the Fermi level incorporated by a band-inversion. In addition, the observed topological non-trivial features of the band structure is corroborated with the simulated Berry curvature, intrinsic anomalous Hall conductivity and the Fermi surface. The partial L21 disorder is simulated using a special quasi random structure, which plays a crucial role in correctly explaining the magnetism and anomalous Hall effect. The simulated anomalous Hall conductivity for ordered and L21 disordered phase of CoRuVSi is found to be 102 and 52 S/cm, the later agrees fairly well with the experimentally measured value (45 S/cm). The coexistence of many interesting properties relevant for spintronic, topological and thermoelectric applications in a single material is extremely rare and hence this study could promote a similar strategy to identify other potential materials belonging to same class.