Khaitan & Co Advised Theia Ventures On Launch And First Close Of Theia Ventures Fund I

Khaitan & Co advised Theia Ventures on launch and first close of Theia Ventures Fund I

The leading law firm in India, Khaitan & Co, acted as legal counsel to Theia Ventures on the launch and investor onboarding of Theia Ventures Fund I, an early-stage fund focused on energy transition, deep technology, and decarbonization. The fund achieved its first close at USD 30 million, marking a significant milestone for the sector.

The fund has secured commitments from global development finance institutions, 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).

The Khaitan & Co team was led by Divaspati Singh (Partner) and Shikhar Kacker (Partner), with support from Mansi Agarwal (Senior Associate) and Nikhat Hetavkar (Associate).

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