Energy Transition-Focused Venture Capital, Transition VC Launches INR 400 Crore Fund With ticket size ranging from $500,000 to $1 million, the VC is looking to support up to 40 early-stage startups over the next 3 years, as per the company's statement
By Teena Jose •
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Transition VC, India's first energy transition-focused VC fund has launched its maiden fund with a target corpus of INR 400 crore, which also includes a greenshoe option of INR 200 crore. The fund was founded last year by a robust team of marquee entrepreneurs and business professionals such as Raiyaan Shingati, Mohammed Shoeb Ali, Mustafa Wajid, Naresh V Narasimhan, Tejas Goenka, Saif Qureishi and Rajesh Doshi. With ticket size ranging from $500,000 to $1 million, the VC is looking to support up to 40 early-stage startups over the next 3 years, as per the company's statement.
"Climate change and energy transition is a business opportunity, as they demand reinvention of every segment of the industry. We are at the beginning of a new era! Major shifts like this don't come around that often, but we are starting to see one now and it's going to shape how people consume energy for decades to come," said Raiyaan Shingati, co-founder and managing partner, Transition VC.
With these networks, the fund aims to add immense value to its overall proposition, and facilitate better GTM, user acquisition, product distribution, hiring, and growth strategy for its portfolio startups. In addition to investments in Indian startups, the fund will also allocate 25 per cent of the fund value for global startups. For its global investments, Transition VC has a concentrated strategy to invest in developed market products that could also be introduced to an emerging market like India, claimed by the company in the statement.
"Our objective is to bring together the best engineers, innovators, and like-minded partners who can help build a better future for all. With this fund, we shall ignite and amplify their entrepreneurial capabilities to develop and deploy sustainable solutions that enable a decarbonised world and solve key energy challenges. To support such startup teams at a pivotal juncture in their entrepreneurial journey, we will deploy a unique combination of capital and competencies at seed stages and help them scale up meaningfully," said Transition VC's general partner, Mustafa Wajid.
Thesis-driven and energy transition sector-focused, the fund is looking to support early-stage startups in sectors such as new energy, e-mobility, green hydrogen, energy storage, net zero energy building and climate-tech focused on decarbonisation.
