Avaana raises $135 mn for climate fund to fuel climate-tech startups

Avaana Capital, India's climate-focused venture capital firm, has managed to infuse Avaana Climate and Sustainability Fund with USD 135 million, thanks to support from renowned institutional investors, including the Green Climate Fund (GCF), said a senior official from the company on Wednesday. In a press statement, Anjali Bansal, partner at Avaana Capital, said, "The support we've received from leading global and domestic institutional investors underscores the importance of innovation in driving climate action and delivering long-term impact. 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." According to her, the fund focuses on three core sectors that account for 90 per cent of India's carbon emissions: Energy and Resource Management, Mobility and Supply Chains, and Sustainable Agriculture and Food Systems. Bansal said India is one of the ...