Theia Ventures Raises $30M for Maiden Fund, Backed by Global Investors
Theia Ventures, a specialist early-stage fund, has successfully raised $30 million for its maiden fund, Theia Ventures Fund I. The fund aims to support 18-20 early-stage startups in energy transition, deep tech, and decarbonization sectors in India.
The fund has received backing from a diverse range of global investors, including Allocator One from Germany, Cisco Foundation from the US, and Vitality Capital Partners from Australia. Domestic support comes from prominent figures like Anand Mahindra, Meher Pudumjee of the Thermax Group, JM Financial, Vimson: Shivanand Salgaocar Group, and Pramit Jhaveri, the former CEO of Citibank India. British International Investment (BII) has stepped in as the anchor investor.
Shilpa Kumar, Managing Director and Head of Asia at BII, has expressed enthusiasm for the fund's focus on early-stage companies developing unique climate technologies in India. Theia Ventures has already invested in Sarla Aviation and Climitra Carbon, with two more investments expected in early 2026. The fund has begun deploying capital, with commitments exceeding 50% of its target corpus.
Theia Ventures Fund I aims to unlock early-stage capital for Indian companies building transformative energy technologies. With a target corpus of $30 million, the fund is well-positioned to support the growth of innovative startups in the energy transition, deep tech, and decarbonization sectors in India.
