Transition Ventures announced that it has raised more than $150 million for its second fund, reinforcing its focus on supporting early-stage founders developing technologies at the intersection of artificial intelligence and the physical world.
According to the firm, rapid advances in AI infrastructure and growing geopolitical pressures have highlighted the importance of innovation in energy, materials, and industrial infrastructure. Transition Ventures believes that the transition away from polluting, extractive, and inefficient legacy systems is creating significant opportunities for companies rebuilding the foundations of the global economy.
The firm pointed to several portfolio companies that demonstrate this trend. OLIX is addressing energy bottlenecks associated with computing infrastructure and recently achieved a $1 billion valuation. Upway has deployed more than 200,000 refurbished electric bikes while growing revenue by 30 times. Seneca is using autonomous drones to combat wildfires and recently secured a $60 million funding round.
Transition Ventures said it focuses on founders tackling large-scale challenges through innovations that combine software, hardware, and deep technical expertise. The firm believes that companies working with physical systems often face greater complexity than traditional software businesses but also have the potential to generate long-term impact by transforming critical industries.
With Fund II, Transition Ventures plans to increase its support for entrepreneurs from the earliest stages of company formation, helping founders build businesses designed to drive sustainable economic growth and industrial transformation.
KEY QUOTES:
“The most ambitious founders want to build a company that matters, one that drives human progress for generations to come. They mold atoms, not just bits. Full-stack by necessity, principled by design, built to outlast them. The work is harder than traditional software, but the prize is exponentially bigger: reinventing the foundations of human prosperity.”
“We built Transition for these founders. Fund II lets us back more, from day one.”
Transition Ventures
