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Theia Ventures announces first close of maiden fund at $30 Mn

Entrackr · 5h ago

Medial

Theia Ventures announces first close of maiden fund at $30 Mn Venture capital firm Theia Ventures has announced the first close of its maiden fund, securing $30 million (approx Rs 266.2 crore) toward its $30 million target. Theia will focus its Fund I investments on deeptech, energy transition, and decarbonisation, backing startups in areas like green mobility, sustainable materials, battery technologies, clean logistics, and industrial decarbonisation. To date, the firm has already locked in commitments exceeding 50% of the target. It is structured as a Category II Alternative Investment Fund (AIF) under SEBI regulations. Theia’s founders have also brought in British International Investment (BII) as an anchor investor, along with support from other global investors such as Allocator One (Germany), Cisco Foundation (US), and Vitality Capital Partners (Australia). Domestically, family offices and industrial groups including Anand Mahindra, Thermax’s Meher Pudumjee, JM Financial, Vimson Group, and Shivanand Salgaocar Group are backing Theia. The fund plans to make 18–20 early-stage investments, with individual cheque sizes typically between $500,000 to $1 million, and reserve roughly 50% of capital for follow-on rounds. Theia has already deployed capital in Sarla Aviation (aerospace) and Climitra Carbon (industrial biochar). It has also committed investments in startups working on precision fermentation and AI-based energy modeling. The final close is expected by the end of fiscal year 2026 (FY26).