Theia Ventures launches maiden fund of $30 million

Early-stage venture capital firm Theia Ventures has announced the first close of its maiden fund, targeting a total corpus of $30 million (₹266.2 crore).

The fund has roped in British International Investment (BII) as its anchor investor, along with a mix of corporate venture arms, fund-of-funds, and family offices. Other global backers include Germany’s Allocator One, the US-based Cisco Foundation, and Australia’s Vitality Capital Partners.

Theia Ventures plans to invest in 18–20 startups focused on differentiated technologies aimed at decarbonizing critical sectors, including heavy industries, manufacturing, materials science, mobility, and supply chains. The firm’s average investment ticket will range from $500,000 to $1 million.

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Over 50% of the new fund will be reserved for follow-on investments in portfolio companies. Priya Shah, founder and managing partner at Theia Ventures, told YourStory that deep-tech startups require substantial capital to develop their IP before they can scale and grow.

“We’re looking to invest in sustainable air fuels, green hydrogen and solar rooftops. Within clean mobility, we are looking at battery chemistry, B2B, logistics, green B2B, logistics and battery management solutions and charging infrastructure,” said founding and general partner Priya Shah. 

About Theia Ventures

Founded in 2021 by Priya Shah, Theia Ventures joins a growing cohort of VCs allocating a significant portion of their funds to provide follow-on capital to high-performing portfolio companies.

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The firm has already begun deploying its new fund, investing in Accel-backed electric air taxi startup Sarla Aviation and Climitra Carbon, a biocoal company serving the steel industry. Priya Shah added that two more companies—focused on precision fermentation and AI-based energy data modeling—have also been signed, though their names remain undisclosed as final procedures are completed.

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Previously, Theia Ventures has backed startups such as AltM Bio, Exponent Energy, and Metastable Materials using its proprietary capital. The fund’s final close is expected by the end of the current financial year, with additional investments to be announced early next year.

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