Funding

Transition Ventures Raises €128M Fund II To Back AI And DeepTech Startups

May 28, 2026 | By Team SR

Transition Ventures, a London-based early-stage investment firm, has announced the close of its €128 million ($150 million) Fund II, increasing its total assets under management to more than €257 million ($300 million).

SUMMARY

Transition Ventures, a London-based early-stage investment firm, has announced the close of its €128 million ($150 million) Fund II, increasing its total assets under management to more than €257 million ($300 million).

The new fund reflects growing investor interest in DeepTech, AI, climate technology, energy systems and industrial innovation across Europe. According to the firm, its team has previously founded companies collectively valued at more than €12 billion ($15 billion) across software, hardware, and DeepTech sectors.

Founded in 2021, Transition Ventures invests from inception through Series A in startups building technology for a rapidly evolving industrial and energy landscape.

Its focus areas include energy infrastructure for AI, robotics for industrial efficiency and next-generation technologies for critical minerals and advanced manufacturing.

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The firm operates across Europe and the US, with a leadership team that includes David Helgason, founder and former CEO of Unity, alongside Ari Helgason, Kristian Branaes, Clara Ricard, and David Pacák, who bring experience from firms including Index Ventures, Atomico, Balderton, Earlybird, and Picus Capital.

Transition Ventures is built around the belief that the next generation of transformative companies will emerge at the intersection of AI and the physical world, using advanced technologies to replace outdated systems with cleaner, smarter, and more efficient alternatives.

David Helgason, co-founder of Transition Ventures and founder/former CEO of Unity says: “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.

About Transition Ventures

Transition Ventures is a cross-Atlantic venture capital firm investing in pre-seed to Series A startups across Europe, the UK and the US. Focused on climate and DeepTech the firm backs founders building AI-driven technologies that modernize legacy industrial and energy systems with cleaner, smarter, and more efficient solutions.