Business Minds: Inspiring Stories of Visionaries

In a decisive move reflecting its long-term investment philosophy, Luxembourg-based deep-technology venture capital firm Boundary Holding has completed a full exit from Dutch energy-monitoring company Withthegrid. The firm, founded by Rajat Khare, originally invested in Withthegrid in early 2021 and has now realized a reported 2.0x multiple on invested capital (MOIC). The transaction marks not just a profitable exit, but a strategic rebalancing of Boundary Holding’s portfolio toward enduring and frontier technologies.

Withthegrid earned industry recognition for its flagship innovation, the ‘Teleport Gateway’—a system enabling real-time monitoring and remote control of energy infrastructure. As global demand for energy analytics and grid digitization accelerated, the company attracted increasing investor attention. However, as Withthegrid matured operationally and expanded its infrastructure footprint, Boundary Holding determined that the timing was right to realize gains and redirect capital into earlier-stage, high-impact opportunities.

Despite the full financial exit, Rajat Khare will continue to support Withthegrid in a non-financial advisory capacity, reinforcing the firm’s long-term commitment to its portfolio companies beyond capital alone.

“We are proud to have supported Withthegrid in its formative years, and I believe that the company is well-placed for the next phase. Our exit is in line with our philosophy, which is rotating funds periodically into the next generation of truly impactful technologies,” Khare said.

The post-exit phase signals a sharpened focus for Boundary Holding. The firm is now actively channeling resources into frontier technologies, particularly specialized artificial intelligence and deep engineering domains. However, unlike many investors chasing high-valuation generative AI ventures, Boundary Holding is deliberately steering clear of what it views as an emerging ‘AI asset bubble.’

As global capital continues to pour into mainstream AI startups, valuations have soared to unprecedented levels. Boundary Holding believes such momentum could lead to an eventual correction. Rather than compete in saturated segments of general AI, the firm is prioritizing specialized AI solutions designed to address deep operational challenges in industrial and infrastructure environments.

Areas of interest include AI-driven command-and-control systems for complex industrial settings, machine intelligence for robotics, autonomous inspection technologies for hazardous sites, and predictive automation platforms that enhance safety while reducing workforce strain. The focus remains on measurable, real-world outcomes—technologies that improve reliability, efficiency, and structural resilience.

Beyond AI, Boundary Holding is expanding its investment thesis into long-horizon sectors such as autonomous robotics, precision manufacturing systems, and advanced sensing technologies. These sectors typically demand longer development cycles and deep engineering expertise but offer durable value creation. They address structural global challenges including workforce shortages, hazardous operations, and the modernization of critical infrastructure.

For Rajat Khare, the Withthegrid exit represents more than a financial milestone; it underscores a disciplined approach to venture capital—one that prioritizes sustainability over hype and long-term impact over short-term visibility.

“Our aim is not to join a race for short-term visibility and be part of the bubble that is bound to burst. We want to back founders who are building technologies that will matter 10 to 15 years from now,” Khare said.

With capital now redeployed and strategic focus recalibrated, Boundary Holding’s next chapter appears firmly anchored in enduring technologies—those designed not just to ride the next wave of innovation, but to define it.

Source: For more detailed insights on the Withthegrid exit and Boundary Holding’s evolving investment strategy, visit the original source URL- https://www.deaandeelhouder.nl/nieuws/2026/01/25/523045-rajat-khare-lead-vc-firm-boundary-holding-exits-withthegrid/