MOL PLUS makes first investment in Indian venture capital fund

Aims to accelerate business creation with start-ups in the Indian market and promote development of the India-Japan corridor

MOL PLUS CO., Ltd, the corporate venture capital arm of Mitsui O.S.K. Lines (MOL), has announced its decision to invest in Theia Ventures Fund 1 which is managed by Theia Ventures LLP. This represents MOL PLUS’ first investment in an Indian venture capital fund. 

India’s start-up 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 start-up market in the world after the United States and China. 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. MOL PLUS established its India desk in November 2024 and is now fully engaged in networking with local venture capitalists and start-up companies. 

Theia Ventures Fund 1 invests exclusively in start-ups in India, with a focus on the energy transition, deeptech, 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 its decision to make it an investment partner. This investment will allow MOL PLUS to accelerate business creation with start-ups in the Indian market, and continue to promote the development of the India-Japan corridor.

“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,” said Ms Priya Shah, Founder & Managing Partner, Theia Ventures. 

“Since the establishment of MOL PLUS India Desk in November 2024, we have realised the appeal of the rapidly growing Indian market through 1on1 meetings with Indian start-ups. At the same time, we have also learned that there is region-specific literacy in India regarding rapidly changing market trends, exit strategies and the role of shareholders. 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,” said Takuya Sakamoto, CEO, MOL PLUS. 

MOL PLUS continually works to generate synergetic effects based on start-up companies’ innovative ideas and technologies and MOL Group’s resources, aiming to create new businesses PLUS new value to the ocean shipping industry and society, highlighted a release.

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