The venture capital firm Transition VC, which focuses on the energy transition, unveiled its first fund with a target corpus of 400 crores and a greenshoe option of 200 crores.
Energy storage, net zero building design, electric transportation, green hydrogen, and climate tech are just a few of the early-stage firms that Bengaluru-based Transition VC will fund.
The corpus would be used over the following three years, the VC fund added, with investments ranging from $500,000 to $1 million.
Global startups will get a portion of the fund’s worth, about one-fourth.
Additionally, Transition VC has connected with organisations that may cooperatively engage with entrepreneurs to perform pilots and support their growth, including incubators, accelerators, other VCs, and corporates in the new energy sector.
The Securities and Exchange Board of India, a capital markets regulator, has granted venture capital business clearance (Sebi).
By the end of this calendar year, the fund’s initial closing 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, launched Transition VC in 2021. Shingati and Ali are in charge of the fund.
