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Transition Ventures Fund II

United Kingdom
Seed
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About Transition Ventures Fund II

London-based, founded by Unity co-founder. $150M Fund II pivots from climate to AI + physical world: power, AI infra, robotics, industrial systems, critical minerals. Inception to Series A. Portfolio includes OLIX (~$1B valuation), Applied Atomics, Seneca, Upway. Total AUM >$300M.

Investment Focus

Location / RegionUnited Kingdom
Funding StageSeed
Industry Focus
AI/ML
Deep Tech
Energy Tech
Robotics & Automation

Investor Signals Profile

active

Sweet Spot

Pragmatic optimist founder, AI+atoms, legacy-building, pre-seed to Series A

AI + physical world
deeptech
energy & power
robotics & industrial
climate resilience
legacy-building
full-stack atoms+bits

Bullish Signals

Fund II closed at $150Mblog
AUM doubled to $300M+ in 2 yearsblog
OLIX reportedly valued ~$1Bblog
Top-tier bench: Index, Atomico, Balderton, USVblog
Cross-Atlantic offices, London + New Yorkblog
Portfolio traction: Applied Atomics, Olix, Senecawebsite
Founder referrals praise real-world building expertisewebsite
Portfolio CEOs endorse: 'do the work' mindsetwebsite
Seneca founder: 'few understand real-world building'website
4 portfolio companies in nuclear, optics, fire-AI, energywebsite
Explicit legacy-building, exponential-prize narrativewebsite
Pre-seed to Series A check size $1–8Mwebsite

Contrarian Signals

Mid-vintage thesis pivot, LP confusion riskblog
Competing vs. generalist AI infra fundsblog
No realized DPI yet, TVPI-only track recordblog
Rebranded as 'Transition': messaging shift signalswebsite
Atoms/full-stack thesis harder than software scalewebsite

Founder Do's

Build at AI-meets-atoms intersection
Show real engineering depth
Have credible path to industrial customers
Operate in power, robotics, or semiconductors
Expect thorough technical diligence process
Be pragmatic optimist seeing new world emerging
Build companies that outlast you

Founder Don'ts

Pitch software AI with thin physical wrapper
Expect 48-hour term sheet
Come without hardware or physical-world moat
Embrace extractive, zero-sum logic

Key GPs & Partners

DH
David Helgason
Founding Partner
ex-founderthesis-drivenopinionated
AH
Ari Helgason
Partner
thesis-drivenmetrics-driven
KB
Kristian Branaes
Co-Founding Partner
thesis-drivencommunity-builder
MA
Mona Alsubaei
Partner
thesis-drivencommunity-builder
CR
Clara Ricard
Partner
fast-moverthesis-driven
DP
David Pacák
Partner
thesis-driven

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Fund Overview

Fund Size$150M
Saves0
Website
LinkedIn

Key People

David Helgason

David HelgasonFounding Partner
Ari HelgasonPartner
Kristian BranaesCo-Founding Partner
Mona AlsubaeiPartner
Clara RicardPartner
David PacákPartner

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