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.
Transition VC will make seed investments in startups across sectors such as E-Mobility, Green Hydrogen, Energy Storage, Net Zero journey in Buildings and Climate-tech. With ticket size ranging from $500K to $1 Million, the VC is looking to support up to 40 early-stage startups over the next 3 years.
Bengaluru-based Transition VC recently received its SEBI approval, and is eyeing to mark the first close of the fund by the end of this calendar year. The fund was founded last year by a robust team of marquee entrepreneurs and business professionals such as Raiyaan Shingati, Mohammed Shoeb Ali, Mustafa Wajid, Naresh V Narasimhan, Tejas Goenka, Saif Qureishi, and Rajesh Doshi.
The team comes with domain expertise in the energy transition sector, and has extensive experience in operating, building, and selling businesses, coupled with a stellar investment track record. The fund is led by Raiyaan and Shoeb; while Raiyaan comes with extensive experience in VC and global private equity, Shoeb’s experience encompasses investment banking and venture capital.
Commenting on the India opportunity, Shoeb Ali, Co-founder and Managing Partner of Transition VC said, “We are optimistic and we see an opportunity of more than 12 unicorns coming from India in this decade just in the Energy Transition and ClimateTech space.”