Avaana Capital, a venture capital firm dedicated to climate solutions, has announced the successful closing of its Avaana Climate and Sustainability Fund, amounting to $135 million. The fund aims to support early-stage startups developing innovative solutions to combat climate change, particularly in sectors contributing significantly to carbon emissions in India.
The Avaana Climate and Sustainability Fund has garnered attention for attracting a diverse array of institutional investors.
Among its supporters is the Green Climate Fund (GCF), the world’s largest climate fund, marking its first direct investment in India through this initiative. Other notable investors include the U.S. International Development Finance Corporation (DFC), the UK Government via the UK-India Development Cooperation Fund (UKIDCF), the Self Reliant India (SRI) Fund, and the Small Industries Development Bank of India (SIDBI). The fund has also received backing from the Azim Premji Trust and several large corporations.
With this capital, Avaana Capital aims to drive significant advancements in climate solutions, fostering innovation and sustainability within India’s economy. The fund’s focus on early-stage startups positions it to address urgent climate challenges, contributing to a greener and more sustainable future for India and beyond. Through strategic investments, Avaana Capital seeks to empower entrepreneurs dedicated to making a difference in the fight against climate change, driving impactful and scalable solutions for global sustainability.
