MOL Invests in Theia Ventures Fund 1

New Delhi, Dec 12 (PTI) MOL PLUS CO, the corporate venture capital arm of Mitsui O.S.K. Lines (MOL), a major Japanese shipping company, on Friday said it has invested an unspecified amount in Theia Ventures Fund 1.

The company in a statement said this represents MOL PLUS' first investment in an Indian venture capital fund.

Theia Ventures Fund 1 invests exclusively in startups in India, with a focus on energy transition, deep tech, material science, and advanced manufacturing fields.

"The MOL Group's strong affinity with the fund's areas of focus was also a deciding factor in our decision to make it an investment partner.

"This investment will allow MOL PLUS to accelerate business creation with startups in the Indian market, and continue to promote the development of the India-Japan corridor," MOL PLUS CO said in a statement.

MOL PLUS CEO Takuya Sakamoto said since the establishment of MOL PLUS India Desk in November 2024, we have realised the appeal of the rapidly growing Indian Market through 1 on 1 meeting with Indian startups.

"By exploring the market together with Theia Ventures, which is deeply rooted in and has a fundamental understanding of the local market, we hope to increase the possibility of business creation with Start-ups," he added.

India's startup market continues to grow rapidly. By the end of 2024, it had surpassed 157,000 companies, with about 70 unicorn companies (valuation of USD 1 billion or more), making it the third largest startup market in the world after the US and China.

The statement said India is one of the MOL Group's priority regions, and in addition to shipping and logistics, the MOL Group is working to expand its business into next generation energy, real estate, and other non-shipping businesses.

"We are proud to be the first Indian venture capital fund partner for MOL PLUS. Their expertise in blue economy, environment and deeptech, both from a strategic perspective through the group entity as well as through their investment in global technology companies, will be hugely beneficial for us to expand the scope of emission reductions across industry, supply chains, materials and mobility," Priya Shah, Founder & Managing Partner, Theia Ventures, said.