Transition VC Closes Fund I at INR 700 Cr The fund aims to build a portfolio in which companies complement each other rather than compete.

Transition VC has closed its debut fund at INR 700 crore, surpassing its original target of INR 400 crore.

The venture capital firm noted that the fund has received support from a wide base of institutional investors, corporates, family offices, strategic partners and industry leaders.

The firm said this network of limited partners strengthens its ability to develop investment theses and spot emerging trends at an early stage. It also believes the network helps improve the quality of deal flow. For founders, the firm stated that this group of backers often acts as a commercial accelerator by helping convert pilot projects into purchase orders, enabling access to domestic and international markets and contributing to technology adoption.

Transition VC plans to invest at the post-product and pre-product-market-fit stage. The fund aims to build a portfolio in which companies complement each other rather than compete. According to the firm, this structure allows founders to share operational insights, supply chain resources and talent across the portfolio.

So far, Transition VC claims to have supported 17 startups through Fund I and aims to build a final portfolio of up to 25 companies. Some of the companies backed by the fund include CIMware, Comminent, Matel, EMO, Hydgen, Dynolt and Promethean. The firm stated that more than half of the fund has already been committed and it intends to invest the remaining capital in founders developing solutions in the energy transition sector.

Transition VC was co-founded by Raiyaan Shingati and Mohammed Shoeb Ali. The fund focuses on early investments in engineering-led companies working in areas such as electrification, energy storage, industrial decarbonisation, alternate fuels and next-generation manufacturing.