Home / Companies / News /  Transition VC launches 400 crore fund

NEW DELHI: Energy transition-focused venture capital fund Transition VC on Wednesday announced the launch of its maiden fund with a target corpus of 400 crore, which includes a greenshoe option of 200 crore.

Bengaluru-based Transition VC will invest in 40 early-stage startups across sectors such as electric mobility, green hydrogen, energy storage, net zero journey in buildings and climate-tech.

The corpus will be deployed over the next three years, with ticket size ranging from $500,000 to $1 million, the VC fund said in a release. The fund will allocate 25% of the fund value for global startups.

Transition VC has also partnered with incubators, accelerators, fellow VCs, and corporates in the new energy domain who can collaboratively work with startups to run pilots and help them grow.

The VC firm recently received approval from capital markets regulator Securities and Exchange Board of India (Sebi). It is looking to mark the first close of the fund by the end of calendar year 2022.

Transition VC was founded in 2021 by a team of entrepreneurs and business professionals such as Raiyaan Shingati, Mohammed Shoeb Ali, Mustafa Wajid, Naresh V Narasimhan, Tejas Goenka, Saif Qureishi, and Rajesh Doshi. The fund is led by Shingati and Ali.

Prior to launching Transition VC, the team invested in multiple startups in the electric-mobility sector including two startups operating electric mobility charging infrastructure: Charge+Zone and Exponent Energy.

“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 Shingati, cofounder and managing partner of Transition VC.

Transition VC claimed that its maiden Fund is currently seeing growing interest from Indian as well as global high net-worth individuals (HNIs), family offices, and corporates specialized in strategic investments.

For its LPs (limited partners), the fund is looking at an invite-only pool of investors who understand this domain well and are aligned with its vision, the VC firm said.

“Our objective is to bring together the best engineers, innovators, and like-minded partners who can help build a better future for all," said Transition VC’s general partner Wajid.

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