Theia Ventures Kicks Off $30M Fund I for Early-Stage Climate Tech
Theia Ventures, a specialist climate tech investor, has kicked off its maiden fund with a $30 million first close. The fund, Theia Ventures Fund I, aims to back 18-20 early-stage startups focusing on decarbonization in critical sectors.
The fund's final close is expected by the end of the current financial year. Priya Shah, Founder & Managing Partner of Theia Ventures, expressed excitement about the fund's first close and partnerships. The fund has already invested in Sarla Aviation and Climitra Carbon, with two more investments expected in early 2026.
Theia Ventures Fund I has attracted investments from a diverse range of investors. British International Investment (BII) is the anchor investor, alongside corporate venture arms, fund-of-funds, and family offices. Notable domestic and global family offices include Anand Mahindra, Meher Pudumjee (Thermax Group), JM Financial, Vimson Group's Shivanand Salgaocar, and Pramit Jhaveri (former CEO of Citibank India). The fund has also secured commitments from Allocator One (Germany), Cisco Foundation (US), and Vitality Capital Partners (Australia).
The fund typically invests between $500,000 and $1 million, with over 50% of the corpus reserved for follow-on investments. It has already deployed capital and secured commitments exceeding 50% of its target corpus.
Theia Ventures Fund I is well on its way to reaching its target corpus, with a strong pipeline of investments in climate tech startups. The fund's diverse investor base and strategic focus on decarbonization position it well to drive impact in critical sectors.
