Transition Ventures

Transition Ventures is a London-based early-stage venture firm co-founded in 2021 by David Helgason (co-founder and former CEO of Unity Technologies), Ari Helgason, Kristian Branaes, Clara Ricard, and David Pacák. The firm self-describes as a climate and deep tech fund, backing founders building at the intersection of AI and the physical world — covering energy, next-generation computing, semiconductors, robotics, and climate resilience. It runs a concentrated portfolio across Europe, the UK, and the US, with initial cheques of $1M–$8M at pre-seed, seed, and Series A stages. Fund II ($150M, closed May 2026) brought total AUM above $300M and marked a deliberate broadening of thesis toward 'physical AI' — companies rebuilding real-world infrastructure through AI, from modular nuclear and photonic chips to autonomous wildfire suppression. Portfolio companies include Olix, Seneca, Applied Atomics, Upway, Invisix, and Watershed. Warm introductions are preferred; no formal application portal is listed.