<p>Bengaluru: Mumbai-based Theia Ventures, an early-stage venture capital fund dedicated exclusively to energy transition, deep-tech and decarbonisation, on Wednesday announced that it will raise $30 million as part of its maiden fund. It has received half of it already and the balance is expected to come in by the end of the current fiscal.</p>.<p>UK's development finance institution, British International Investment (BII) is the anchor investor. Other investors include institutions such as Cisco Foundation, which is a corporate VC arm in the US and two other funds, Allocator One (Germany), and Vitality Capital Partners (Australia). Many Indian family offices have also invested in this fund, according to Priya Shah, Founder & Managing Partner of Theia Ventures.</p>.VC firm Atomic Capital closes Rs 400 crore maiden fund.<p>Through Fund-I, Theia Ventures has invested in Sarla AViation, an Accel-backed electric air taxi company, and recently led a pre-seed round in Climitra Carbon, a bio-coal company catering to the steel industry.</p>.<p>The fund has also signed on two additional companies in precision fermentation (biotech) and AI-based energy data modelling, with further investments expected to be announced in early 2026.</p>.<p>"Our objective is to unlock much-needed, early stage capital towards Indian companies building transformative technologies to disrupt the energy status quo. Petroleum or coal-based products and processes are now being rapidly replaced by cleaner fuels and energy sources, which presents a huge opportunity for startup innovation and growth, particularly in emerging sectors such as carbon removal, novel materials, data centres, clean mobility, renewable energy and biotech," Shah told <em>DH.</em></p>.<p>Theia Ventures Fund-I aims to back 18–20 early-stage startups developing differentiated technologies to decarbonise critical sectors such as heavy industry, manufacturing, material science, mobility, and supply chains. The firm typically invests between $500,000 and $1 million, with over 50 per cent of the corpus reserved for follow-on investments. The team has a strong track record in energy transition investments, with prior proprietary investments in companies such as Exponent Energy, AltM Bio, Octolife, and Metastable Materials.</p>
<p>Bengaluru: Mumbai-based Theia Ventures, an early-stage venture capital fund dedicated exclusively to energy transition, deep-tech and decarbonisation, on Wednesday announced that it will raise $30 million as part of its maiden fund. It has received half of it already and the balance is expected to come in by the end of the current fiscal.</p>.<p>UK's development finance institution, British International Investment (BII) is the anchor investor. Other investors include institutions such as Cisco Foundation, which is a corporate VC arm in the US and two other funds, Allocator One (Germany), and Vitality Capital Partners (Australia). Many Indian family offices have also invested in this fund, according to Priya Shah, Founder & Managing Partner of Theia Ventures.</p>.VC firm Atomic Capital closes Rs 400 crore maiden fund.<p>Through Fund-I, Theia Ventures has invested in Sarla AViation, an Accel-backed electric air taxi company, and recently led a pre-seed round in Climitra Carbon, a bio-coal company catering to the steel industry.</p>.<p>The fund has also signed on two additional companies in precision fermentation (biotech) and AI-based energy data modelling, with further investments expected to be announced in early 2026.</p>.<p>"Our objective is to unlock much-needed, early stage capital towards Indian companies building transformative technologies to disrupt the energy status quo. Petroleum or coal-based products and processes are now being rapidly replaced by cleaner fuels and energy sources, which presents a huge opportunity for startup innovation and growth, particularly in emerging sectors such as carbon removal, novel materials, data centres, clean mobility, renewable energy and biotech," Shah told <em>DH.</em></p>.<p>Theia Ventures Fund-I aims to back 18–20 early-stage startups developing differentiated technologies to decarbonise critical sectors such as heavy industry, manufacturing, material science, mobility, and supply chains. The firm typically invests between $500,000 and $1 million, with over 50 per cent of the corpus reserved for follow-on investments. The team has a strong track record in energy transition investments, with prior proprietary investments in companies such as Exponent Energy, AltM Bio, Octolife, and Metastable Materials.</p>