Transition VC Announces INR 400 Cr Maiden Fund To Boost Cleantech Startups

• ByStartupStory     |    November 23, 2022

On Wednesday, the venture capital firm Transition VC, which focuses on the energy transition, announced the opening of its first fund, with a target corpus of 400 crores and a greenshoe option of 200 crores.40 early-stage firms in industries like electric mobility, green hydrogen, energy storage, net zero building journey, and climate tech will receive funding from Bengaluru-based Transition VC.

According to a release from the VC fund, the corpus will be invested over the following three years, with tickets costing between $500,000 and $1 million. 25% of the fund value will be set aside by the fund for international startups. In the new energy sector, Transition VC has also collaborated with incubators, accelerators, other VCs, and corporations that can work cooperatively with companies to execute pilots and support their growth.

The Securities and Exchange Board of India, a capital markets regulator, has granted venture capital business clearance (Sebi). By the closing of the calendar year 2022, the fund’s first close is anticipated. A group of businessmen and entrepreneurs, including Raiyaan Shingati, Mohammed Shoeb Ali, Mustafa Wajid, Naresh V. Narasimhan, Tejas Goenka, Saif Qureishi, and Rajesh Doshi, founded Transition VC in 2021. Shingati and Ali are in charge of the fund.

The team behind Transition VC had previously invested in a number of firms in the electric-mobility space, including Charge+Zone and Exponent Energy, two businesses that provide charging stations for electric vehicles. The energy transition and climate change present a commercial opportunity because they need the redesign of every industry sector. A new era is just getting started! Major changes like this don’t happen very frequently, but one is beginning to take shape right now and will affect how people use energy for decades to come, according to Shingati, co-founder and managing partner of Transition VC. According to Transition VC, family offices, corporations that specialise in strategic investments, and high net-worth individuals (HNIs) from both India and throughout the world are showing increasing interest in its first fund.

According to the VC firm, the fund is seeking LPs (limited partners) from an exclusive pool of investors who are familiar with this industry and share its goals. Wajid, the general partner at Transition VC, stated: “Our goal is to bring together the best engineers, innovators, and like-minded partners who can help build a better future for all.”

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