Energy transition-focussed Transition VC launches Rs 400-crore fund

Energy transition-focussed venture capitalist Transition VC has launched its maiden fund with a target corpus of Rs 400 crore. The firm will make seed investments in startups across sectors undergoing a transition to e-mobility, green hydrogen, energy storage and net-zero, in building climate-tech solutions.

With ticket size ranging from $500,000 to $1 million (about Rs 4-8 crore), the VC is looking to support up to 40 early-stage startups over the next three years, it said in a statement on Wednesday.

"Transition VC, India's first energy transition-focused VC fund has launched its maiden fund with a target corpus of Rs 400 crore, which also includes a greenshoe option of Rs 200 crore," it said.


The Bengaluru-based VC recently received the Sebi nod for the fund, which was founded last year, and is eyeing the first close by 2022 end.

In addition to investments in Indian startups, the fund also plans to allocate 25 per cent of the fund for global startups.

"With this fund, we shall ignite and amplify their entrepreneurial capabilities to develop and deploy sustainable solutions that enable a decarbonised world and solve key energy challenges," said Transition VC general partner Mustafa Wajid.