Energy Transition Firm Transition VC Floats First Fund Worth Rs 400 Cr

Highlights :

  • Bengaluru-based first venture capital firm dedicated to energy transition, Transition VC, has launched its first fund with a target corpus of Rs 400 crore and a greenshoe option of Rs 200 crore.
  • Transition VC will invest in seed rounds of firms in various transitioning industries, including new energy, e-mobility, green hydrogen, energy storage, net zero building journeys, and climate tech.

Bengaluru-based first venture capital firm dedicated to energy transition, Transition VC, has launched its first fund with a target corpus of Rs 400 crore and a greenshoe option of Rs 200 crore. Transition VC will invest in seed rounds of firms in a variety of transitioning industries, including new energy, e-mobility, green hydrogen, energy storage, net zero building journeys, and climate tech. Over the following three years, the firm hopes to fund up to 40 early-stage firms with tickets ranging from $500K to $1M.

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Transition VC recently got SEBI clearance and plans to announce the first closing of the fund by the end of the current calendar year. Raiyaan Shingati, Mohammed Shoeb Ali, Mustafa Wajid, Naresh V. Narasimhan, Tejas Goenka, Saif Qureishi, and Rajesh Doshi were among a strong group of prominent businessmen and entrepreneurs who created the fund last year. The team has a strong track record of investments and subject understanding in the energy transition industry. They also have a wealth of running, creating, and selling business experience. The fund is run by Raiyaan and Shoeb; although Raiyaan has a wealth of experience in venture capital (VC) and global private equity, Shoeb has experience in both investment banking and VC.

The team behind Transition VC had previously invested in many E-mobility-related firms, including Charge+Zone and Exponent Energy. Charge+Zone is one of the nation’s largest operators of charge points, while Exponent Energy provides rapid charging for business vehicles.

Due to the energy transition-focused strategy of its core team, HNIs, family offices, and corporations with a focus on strategic investments from India and throughout the world are showing increasing interest in Transition VC’s first fund. For its limited partners (LPs), the fund is considering an invite-only pool of investors who are knowledgeable about this industry and share its goals.

According to Morgan Stanley’s most recent research, “The New India: Why this is India’s Decade,” as the country quickens its Energy Transition, India will draw USD 700+ Billion in energy investments over the next Decade.

With the help of its extensive network of corporates, VCs, accelerators, and incubators in the new energy sector, Transition VC may collaborate with tech entrepreneurs to perform pilot projects and support their expansion. With the use of these networks, the fund hopes to significantly improve the value of its total offering and help its portfolio firms with better GTM, user acquisition, product distribution, hiring, and growth strategies.

The fund would set aside 25% of the fund value for investments in international businesses in addition to those in Indian startups. Transition VC has a focused strategy to invest in established market goods that might potentially be introduced to an emerging market like India for its international investments.

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