Transition VC has announced the final close of its debut fund at ₹700 crore (approximately USD 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, and 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.
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 a meaningful edge, strengthening thesis development, sharpening the firm’s ability to identify emerging trends early, and deepening the quality of deal flow. For founders, this LP network acts as a real commercial accelerant by converting pilots into purchase orders, opening doors to domestic and global markets, and directly shaping adoption pathways
A core pillar of Transition VC’s strategy is to invest at the post-product, pre-PMF stage, while strategically constructing a portfolio where companies are complementary rather than competitive. By doing so, the firm enables founders to share insights, supply chains, and talent across the portfolio, creating an internal ecosystem where each company strengthens the others. As this network effect compounds, the collective enterprise value of the portfolio grows faster than any single company in isolation, especially as founders scale technology and manufacturing with LP expertise and industry reach.
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 high-conviction solutions across the energy transition spectrum.
Commenting on the fund close, Shoeb Ali, Co-Founder and Managing Partner of Transition VC, said, “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. 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.”
The portfolio is already demonstrating strong momentum. Five companies are on track to cross USD 8–10 million in revenue, four have reached EBITDA positivity, and six acquisition offers have been turned down as founders and the firm double down on long-term value creation. Two uprounds have closed, and two additional Series A+ term sheets are currently under negotiation, signalling significant market validation for the fund’s early bets.
Raiyaan Shingati, Co-Founder and Managing Partner of Transition VC added,”At Transition VC, 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.
Energy Transition isn’t inevitable; it must be built. And we’re backing the founders who are building it.
Our final close reflects a simple truth I learned through this fundraising journey: LPs don’t invest in funds, they invest in people they trust!
I’m grateful for the LPs who believed in us and the founders who chose us.”
Looking ahead, Transition VC is building on the success of Fund I with plans for its next vehicle. The firm has already secured significant initial commitments for Fund II. Across both funds, Transition VC’s mission remains consistent: to prove that strong financial returns and climate-conscious decisions can, and must, go hand in hand, while backing the entrepreneurs reshaping how the world produces, stores, moves, and consumes energy.
About Transition VC
Transition VC is India’s first energy-transition focused venture capital fund, founded by Raiyaan Shingati and Mohammed Shoeb Ali. The firm invests early, catalytic capital into the future of energy in India, backing engineering-led companies building the infrastructure for the transition via electrification, energy storage, industrial decarbonisation, alternate fuels, and next-generation manufacturing.
Transition VC specialises in the post-product, pre-PMF stage where technical feasibility is proven, commercial proof is emerging, and conviction is scarce. Our thesis is grounded in first-principles engineering, an energy-demand × energy-supply lens, and a portfolio architecture for complementary pull with shared customers, shared suppliers, and shared talent rather than a scatter of unrelated bets.
Our portfolio already demonstrates commercial scale, profitability, and strategic demand from the industry. Transition VC is building the platform for early energy-transition investing by backing founders who create proprietary technology, solve hard engineering constraints, and deliver long-term enterprise value in markets that matter.
