Siddharth Mehta, who help found corporate venture units in India for both Shell and TDK, is setting up a unit for SE Ventures.
Siddharth Mehta has left TDK Ventures to join SE Ventures, the investment arm of French power company Schneider Electric. Mehta will be the first investor based in India for SE Ventures and will be looking at investments across India, Asia Pacific and the Middle East.
Mehta, who is based in Bangalore, was investment director at TDK Ventures from June 2022 and before that was a founding member of the Shell Ventures operations in India.
GCV understands that Mehta will be looking to add team members the SE Ventures India office in due course.
SE Ventures, set up in 2017, has some $1.1bn in assets under management and has a focus on climate tech and industrial technology startups. SE Ventures’ investments include machine learning-based data capture company Scandit, satellite-based unitlity maintenance service AIDash and green energy management platform Ostrom.
As the Indian tech ecosystem shifts from consumer and fintech to a focus on deeptech, a new set of corporate investors are setting up units in the country.