Home/ Companies / Start-ups/  Transition VC launches fund for green firms

NEW DELHI : Transition VC, an energy transition-focused venture capital fund, on Wednesday introduced its maiden fund with a target corpus of 400 crore, including 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 investments ranging from $500,000 to $1 million, the VC fund said.

A fourth of the fund value will be allocated 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 had recently received its approval from capital markets regulator Securities and Exchange Board of India (Sebi).

It plans to mark the first close of the fund by the end of this calendar year.

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.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 23 Nov 2022, 02:57 AM IST
Next Story
Recommended For You
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout