MOL PLUS, the corporate venture capital arm of the Japanese shipping major Mitsui OSK Lines, has made its first investment in India by backing the Bengaluru-based Theia Ventures Fund 1. This move comes after MOL established a dedicated India desk in November 2024 to network with local startups and venture capitalists. The investment aims to accelerate business creation in the Indian market, which is now the third-largest startup ecosystem globally.
Theia Ventures Fund 1 focuses exclusively on Indian startups in sectors like energy transition, deep tech, materials science, and advanced manufacturing. Priya Shah, Founder of Theia Ventures, noted that MOL’s expertise in the “blue economy” and environment will be highly beneficial for expanding emission reductions across industry and supply chains. The partnership is seen as a way to promote the development of a strategic India-Japan business corridor.
MOL Group has identified India as a priority region and is looking to expand beyond shipping and logistics into next-generation energy and real estate. Takuya Sakamoto, CEO of MOL PLUS, expressed confidence that exploring the market with Theia Ventures would increase the potential for innovative business creation. With India hosting over 1,57,000 startups and 70 unicorns, the Japanese firm sees significant growth opportunities in the region’s skilled workforce and rapidly changing market trends.