Transition VC closes oversubscribed ₹700 crore debut fund at final close

Backed by strategic LPs, Transition VC says its debut fund has crossed target to close at ₹700 crore, with early portfolio traction and plans under way for a second fund

Transition VC has announced the final close of its debut fund at ₹700 crore (approximately $77 million), substantially overshooting its initial target of ₹400 crore. The oversubscribed close signals strong conviction from a diverse and deeply engaged base of limited partners. It reinforces Transition VC’s belief that the future of energy, and the broader energy-transition theme, will define the next wave of category-defining companies.

 

What is Transition VC saying about early portfolio performance?

 

“Our portfolio’s early performance makes one thing clear: India’s future energy champions are being built right now. They are converting pilots to large orders, scaling production, and creating enterprise value far ahead of typical early-stage expectations,” said Shoeb Ali, co-founder and managing partner of Transition VC. “We will continue identifying founders whose engineering-led solutions can scale across India and the Global South, strengthening our mission to show that climate-aligned companies can generate exceptional long-term returns.”

 

Who are the limited partners backing the debut fund, and what do they bring?

 

The fund is backed by a curated community of institutional investors, corporates, family offices, strategic partners, and industry leaders who bring far more than capital to the table. This LP network gives Transition VC an edge by sharpening the firm’s thesis, surfacing early trends and improving deal flow. For founders, it functions as a commercial accelerant, turning pilots into purchase orders, opening new markets and speeding adoption.

 

What is the firm’s investment thesis on energy and deep tech?

 

“We’re investing in India’s future of energy and strengthening the nation’s energy security. Not in software abstractions, but in real engineering, hardware, and deep-tech solutions solving India’s toughest energy challenges,” said Raiyaan Shingati, co-founder and managing partner of Transition VC. “Energy transition isn’t inevitable; it must be built. And we’re backing the founders who are building it.”

 

How many startups has Transition VC backed so far, and what is the target portfolio?

 

To date, Transition VC has already supported 17 startups through Fund I, targeting a final portfolio of up to 25 companies. Noteworthy investments include CIMware, Comminent, Matel, EMO, Hydgen, Dynolt, and Promethean, with each playing a distinct role in the evolving energy transition landscape. More than half of the fund has already been committed, and the firm is actively looking to deploy the remaining capital into founders building solutions across the energy transition spectrum.

 

What traction is the portfolio reporting, and what comes next?

 

The portfolio is showing traction: several companies are nearing $8–10 million in revenue, multiple have turned EBITDA positive, and two uprounds plus two pending Series A+ term sheets signal market validation.

 

Transition VC is now preparing its second fund, backed by early commitments. Across both vehicles, the mission remains the same: deliver strong returns while supporting entrepreneurs transforming how the world produces, stores, moves and consumes energy.