Transition VC has reached the final close of its maiden fund at ₹700 crore, nearly doubling its original ₹400 crore target.
The fund has attracted commitments from institutional investors, corporates, family offices, strategic partners, and leaders across the industry.
The Bengaluru-based firm, founded by Raiyaan Shingati and Mohammed Shoeb Ali, positions itself as India’s first venture fund dedicated to the energy transition, backing engineering-led deeptech startups working on how energy is produced, stored, moved, and consumed.
Transition VC has invested in 17 startups so far and is targeting a final portfolio of up to 25 companies. Its portfolio includes CIMware, Comminent, Matel, EMO, Hydgen, Dynolt, and Promethean, each operating across different layers of the energy-transition value chain.
Targeting investments at the post-product, pre–product-market-fit phase, the firm is curating a portfolio of complementary companies that do not compete with one another.
Shingati explained that the fund’s investment scope spans mobility, industrial decarbonisation, the hydrogen economy, power electronics, data centres, and AI-linked energy demand. He added that more than half of the capital is already allocated, with the rest to be invested in electrification, energy storage, industrial decarbonisation, alternative fuels, and advanced manufacturing.
