Venture capital firm Theia Ventures has announced the first close of its inaugural fund, successfully raising $15 million toward its $30 million target. The fund is dedicated to investing in deeptech, energy transition, and decarbonisation, with a strategic focus on startups in areas like green mobility, sustainable materials, and industrial decarbonisation. This initial capital infusion represents over fifty percent of the total goal.

Theia Ventures has attracted a diverse group of international and domestic backers. British International Investment (BII) joins as an anchor investor, supported by global participants such as Allocator One, Cisco Foundation, and Vitality Capital Partners. Prominent domestic investors include family offices and industrial groups, with commitments from individuals like Anand Mahindra and Thermax’s Meher Pudumjee. The fund is structured as a Category II Alternative Investment Fund (AIF) under SEBI regulations.

A notable feature of Theia’s early activity is its commitment to Climitra Carbon, an industrial biocharBiochar is a carbon-rich material created from biomass decomposition in low-oxygen conditions. It has important applications in environmental remediation, soil improvement, agriculture, carbon sequestration, energy storage, and sustainable materials, promoting efficiency and reducing waste in various contexts while addressing climate change challenges. More company. The fund plans to make 18–20 early-stage investments, reserving roughly half its capital for follow-on rounds, and this initial focus on biochar demonstrates a commitment to tangible carbon removal technologies.

Theia’s other initial investments include Sarla Aviation and commitments to startups working on precision fermentation and AI-based energy modeling. With individual cheque sizes ranging from $500,000 to $1 million, Theia Ventures anticipates reaching its final close by the end of the 2026 fiscal year, aiming to drive innovation across critical sustainable technology sectors.