Firm Matters

Khaitan & Co acted as legal counsel to Theia Ventures on the launch and investor onboarding of Theia Ventures Fund I, an early-stage fund with an investment focus on energy transition, deep technology, and decarbonization. The Fund achieved its first close at USD 30 million.

The Fund has been able to raise commitments from global development finance institution, with British International Investment (BII) as the anchor investor, as well as from large corporations and prominent family offices. 

Theia Ventures, one of India’s first specialist early-stage funds dedicated exclusively to energy transition, deep tech and decarbonization, announced the first close of its maiden $30 million fund. Marking a significant milestone for the sector, the fund has already secured commitments exceeding 50% of its target corpus and has begun deploying capital. The anchor investor is British International Investment (BII), alongside a strong base of corporate venture arms, fund-of-funds, and family offices. Apart from BII, other global investors include Allocator One (Germany), Cisco Foundation (US), and Vitality Capital Partners (Australia). Domestic and global family offices backing the fund include Anand Mahindra, Meher Pudumjee (Thermax Group), JM Financial, Vimson: Shivanand Salgaocar Group, Pramit Jhaveri (former CEO of Citibank India).