In a decisive portfolio move reflecting discipline and long-term thinking, Boundary Holding, founded by Rajat Khare, has completed its full exit from Dutch energy-monitoring company Withthegrid. The investment, initiated in early 2021, delivered a 2.0x multiple on invested capital (MOIC), signaling both a successful return and a strategic inflection point for the firm.
Withthegrid, widely recognized for its Teleport Gateway—a system enabling real-time monitoring and remote control of energy infrastructure—has been a notable player in the rise of energy analytics and grid digitization. As the company scaled its infrastructure and matured operationally, Boundary Holding chose to realize gains and redirect capital toward earlier-stage, high-impact opportunities.
Despite the full exit, Khare confirmed he will continue to support Withthegrid in an advisory role, maintaining a non-financial association with the company. “We are proud to have supported Withthegrid in its formative years, and I believe the company is well-positioned for its next phase,” Khare stated. “Our exit aligns with our philosophy of rotating capital into the next generation of impactful technologies.”
Portfolio Rebalancing with a Long-Term Lens
The exit marks more than a financial milestone—it underscores Boundary Holding’s approach to active portfolio rebalancing. At a time when global venture capital is heavily concentrated around artificial intelligence, the firm is deliberately steering clear of what it perceives as an overheated market.
Industry observers note that soaring valuations in generative AI have created a crowded and often undifferentiated investment landscape. Boundary Holding, however, is taking a contrarian stance. Rather than chasing broad AI narratives, the firm is focusing on specialized AI applications designed to address deep operational challenges.
This includes AI-driven command-and-control systems for industrial environments, machine intelligence for robotics, autonomous inspection technologies, and predictive automation platforms. These innovations emphasize measurable outcomes—reducing labor dependency, enhancing safety, and improving operational efficiency across industries.
Expanding Beyond the AI Hype Cycle
While specialized AI remains a key pillar, Boundary Holding is also broadening its scope to include frontier technologies with longer development horizons. Areas such as autonomous robotics, precision manufacturing systems, and advanced sensing technologies are gaining prominence within the firm’s investment strategy.
These sectors share a common thread: they tackle structural challenges such as workforce shortages, hazardous working conditions, and the need for resilient infrastructure. Unlike trend-driven investments, these technologies demand deep engineering expertise and sustained capital commitment, but offer enduring value in return.
Boundary Holding’s redeployment strategy reflects a clear principle—prioritizing substance over hype. The firm aims to back companies that integrate advanced engineering with real-world applicability, rather than those riding short-term technological waves.
As Khare articulates, the post-Withthegrid phase is not just about reallocating capital, but redefining the trajectory of the firm’s portfolio. “Our aim is not to chase short-term visibility or be part of a bubble that is bound to burst,” he said. “We want to support founders building technologies that will remain relevant 10 to 15 years from now.”
With this recalibrated focus, Boundary Holding is positioning itself to participate in the next wave of deep-tech innovation—one defined not by hype cycles, but by durability, impact, and long-term value creation.
Source of URL- https://www.deaandeelhouder.nl/nieuws/2026/01/25/523045-rajat-khare-lead-vc-firm-boundary-holding-exits-withthegrid/