Transition Ventures, a London-based early stage funding agency, is at this time asserting they’ve closed their €128 million ($150 million) Fund II, taking its AUM to over €257 million ($300 million).
In line with the agency, their group has based corporations price over €12 billion ($15 billion) throughout software program, {hardware} and DeepTech.
David Helgason, co-founder of Transition Ventures and founder/former CEO of Unity says: “Bold founders don’t simply wish to construct a terrific enterprise: they wish to create one thing that can matter for generations to return. The world wants these corporations greater than ever. The query is whether or not they get the correct backing to succeed.
Transition Ventures’ Fund II sits inside a broader 2026 EU-Startups sample of specialist European enterprise funds elevating capital for DeepTech, AI, local weather, vitality, industrial techniques and research-led firm formation.
The UK is very related: 2026 noticed fund bulletins from London-based 2150, Lansdowne Partners, Eka Ventures and Passion Capital, all in adjoining early-stage, local weather, AI, sustainability or research-commercialisation segments.
Outdoors the UK, comparable exercise contains The Footprint Firm’s climate and DeepTech fund in Denmark, Montis VC’s AI-driven energy and IndustrialTech fund in Poland, 360 Capital’s DeepTech transfer fund in France, and Vanagon Ventures’ pre-Seed DeepTech and AI fund in Germany.
Based mostly on this exercise, the capital formation context round Transition’s new fund is substantial, with greater than €1 billion disclosed throughout related or adjoining fund autos in 2026 as per our protection.
“At Transition, we consider that the basic VC mannequin of backing extra of the identical, incremental enhancements, has run out of highway. Founders shouldn’t have to decide on between a enterprise fund that has the capabilities to assist them scale and a fund that’s aligned with their values,” provides David.
Based in 2021, Transition invests from inception to Sequence A in corporations leveraging tech in a quickly altering world; from the vitality techniques powering AI, robotics for industrial effectivity, and next-generation options for essential minerals refining.
The group invests throughout Europe and the US and consists of David Helgason, founder/ex-CEO of Unity ($2 billion+ AR), Ari Helgason (former entrepreneur, Index Ventures), Kristian Branaes (CPP, Atomico), Clara Ricard (Balderton) and David Pacák (Earlybird, Picus Capital).
The agency is based on the idea that crucial corporations of the following many years might be constructed on the intersection of AI and the bodily world, leveraging the most recent applied sciences to exchange legacy techniques with cleaner and extra environment friendly options.
Notable corporations of their portfolio embody:
- Olix: Growing photonics-based computing {hardware} that delivers a step change in efficiency and vitality effectivity relative to present semiconductors, Olix is now valued at €858 million ($1 billion). Transition invested within the first spherical alongside LocalGlobe – the corporate has since gone on to lift over €188 million ($220 million).
- Utilized Atomics is growing small modular nuclear energy crops designed to provide electrical energy to information facilities and huge industrial customers. Based by former SpaceX engineers, they’re utilizing reactor know-how to ship dependable, clear energy immediately the place it’s wanted.
- Seneca: Full-stack bodily AI answer for wildfire suppression. Their autonomous drones can attain fires in 10 minutes, a lot sooner than what’s reportedly attainable with typical options, while additionally being materially cheaper. Transition invested in Seneca’s first enterprise spherical. The corporate has now raised €51 million ($60 million).
- Upway: A platform for refurbished and pre-owned e-bikes. Since Transition invested within the spring of 2022, the corporate has grown income by greater than 30x. The corporate has now raised over €103 million ($120 million).
