Theia Ventures, a venture capital firm, announced the first close of its first fund, raising $15 million (roughly Rs 266.2 crore) of the $30 million target.
Key Highlights
- Theia Ventures achieves first close of its debut fund at $15 million to back early-stage startups.
- The maiden fund will focus on investing in technology-driven startups shaping India’s innovation and growth ecosystem.
Theia will support startups in fields like green mobility, sustainable materials, battery technologies, clean logistics, and industrial decarbonization as part of its Fund I investments, which will be concentrated on deeptech, energy transition, and decarbonization.
The company has already committed to more than half of the goal thus far. According to SEBI regulations, it is set up as a Category II Alternative Investment Fund (AIF).
Along with backing from other international investors like Vitality Capital Partners (Australia), Cisco Foundation (US), and Allocator One (Germany), Theia's founders have also secured British International Investment (BII) as an anchor investor. Theia is supported domestically by family offices and business conglomerates such as Anand Mahindra, Meher Pudumjee of Thermax, JM Financial, Vimson Group, and Shivanand Salgaocar Group.
Also Read: Unleash Capital Partners Announces Closure of Rs300 Cr First Fund
The fund intends to reserve about half of its capital for follow-on rounds and make 18 to 20 early-stage investments, with individual checks usually ranging from $500,000 to $1 million.
Theia has already made investments in Climitra Carbon (industrial biochar) and Sarla Aviation (aerospace). Additionally, it has made investments in startups engaged in AI-based energy modeling and precision fermentation. By the end of fiscal year 2026 (FY26), the final close is anticipated.
