Theia Ventures, an India-based early-stage VC fund focused on energy transition, deep tech, and decarbonization, has reached the first close of its US$30 million debut fund.

The fund has secured commitments exceeding half of its target, and has started making investments.

British International Investment is the anchor investor, joined by Allocator One (Germany), Cisco Foundation (US), Vitality Capital Partners (Australia), and family offices from India and overseas, including Anand Mahindra and Meher Pudumjee.

Theia Ventures aims to invest in 18 to 20 early-stage startups developing technologies for heavy industry, manufacturing, material science, supply chains, and clean mobility, typically investing US$500,000 to US$1 million.

The fund has also committed to startups in precision fermentation (biotech) and AI-based energy data modelling.

Theia Ventures expects to complete the final close by the end of the current financial year.

🔗 Source: Theia Ventures