Transition Ventures, an early stage investment firm, has closed a £110m Fund II. The fund will partner with founders from inception to Series A across Europe and the US. Its investment focus includes energy systems powering AI, robotics for industrial efficiency, solutions for critical minerals refining, computing, space and climate resilience.
Founded by a team that has built companies worth more than £10 billion across software, hardware and deep tech, Transition Ventures now has more than £200 million in assets under management. Its concentrated investment approach allows each founder to get the full benefit of the team’s world-class scaling expertise and network, helping them build generational companies in Europe and the US.
The firm has previously backed companies including Olix, Applied Atomics, Seneca and Upway. Olix is now valued at $1 billion and has raised more than $220 million, while Seneca has raised $60 million and Upway has raised more than $120 million.
Ambitious founders don’t just want to build a great business: they want to create something that will matter for generations to come. The world needs these companies more than ever. The question is whether they get the right backing to succeed. At Transition, we believe that the classic VC model of backing more of the same, incremental improvements, has run out of road. Founders shouldn’t have to choose between a venture fund that has the capabilities to help them scale and a fund that is aligned with their values.
