The fund focuses on energy & resource management, mobility & supply chains, and sustainable agriculture & food systems.
The VC firm has raised capital from various institutions including GCF, UKIDCF, and SIDBI among others.
With this fund, the VC firm aims to back early stage startups providing tech-based solutions for climate mitigation and sustainability
Climate-focused venture capital firm Avaana Capital, which counts FarMart, Kazam and Darwinbox among its portfolio companies, has marked the final close of its early stage fund at $135 Mn (around INR 1,135 Cr).
The Avaana Climate and Sustainability Fund focuses on three core sectors – energy & resource management, mobility & supply chains, and sustainable agriculture & food systems, the VC firm said in a statement.
The VC fund has raised capital from the Green Climate Fund (GCF), US International Development Finance Corporation (DFC), UK- India Development Cooperation Fund (UKIDCF), the Self Reliant India (SRI) Fund, Small Industries Development Bank of India (SIDBI), and Azim Premji Trust among others.
“The Avaana Climate & Sustainability Fund will help build the next generation of climate-first companies to transform key sectors and make meaningful progress toward a sustainable future,” said Avaana Capital’s partner Anjali Bansal.
With this fund, the VC firm aims to back early stage startups providing tech-based solutions for climate mitigation and sustainability.
(The story will be updated soon)
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