- October 8, 2025
BII Leads Theia Ventures’ $30M Climate Tech Startup Raising
British International Investment (BII) is the anchor investor in Theia Ventures, one of India’s leading early-stage venture funds focused on energy transition, deep tech, and decarbonization. The firm has announced the first closure of its $30 million Fund I, with over 50% of the target corpus already committed and fund deployment now underway.
Allocator One (Germany), Cisco Foundation (U.S.), Vitality Capital Partners (Australia), and Indian family offices like Anand Mahindra, Meher Pudumjee (Thermax Group), JM Financial, Vimson Group, and Pramit Jhaveri (former CEO, Citibank India) are among the other international backers.
Theia Ventures Fund I intend to invest in eighteen to twenty early-stage firms that are creating solutions to decarbonize supply chains, manufacturing, heavy industries, materials, and mobility. Half of the corpus is set aside for follow-ons, and typical investments fall between $500,000 and $1 million.
The fund has already made investments in Climitra Carbon, a biocoal startup that serves the steel industry, and Sarla Aviation, an electric air taxi company. Biotech and AI-based energy modeling firms are among the upcoming investments.
The fund’s goal, according to its founder and managing partner Priya Shah, is to “unlock early-stage capital for Indian startups disrupting the energy status quo.” The collaboration would “accelerate climate technologies to reduce emissions and strengthen resilience among vulnerable communities,” according to Shilpa Kumar of BII.
By the end of FY 2025–2026, the final close is anticipated, further solidifying Theia’s contribution to the development of India’s ecosystem for clean energy and climate innovation.