Avaana Capital Secures $135M for Climate Fund

Avaana Capital has infused its Climate and Sustainability Fund with $135 million, backed by esteemed investors like the Green Climate Fund. The fund targets key sectors responsible for 90% of India's emissions: energy, mobility, and agriculture. India requires significant investment to reach net-zero by 2070.

Avaana Capital, India's pioneering climate-focused venture capital firm, has successfully raised USD 135 million for its Climate and Sustainability Fund. Key contributions came from institutional investors, including the Green Climate Fund (GCF), marking its first venture fund investment in India.

Partner Anjali Bansal emphasized the significance of this support for accelerating climate innovation and impact. She noted that the fund concentrates on energy, mobility, and sustainable agriculture, sectors integral to cutting 90% of India's carbon emissions.

Bansal pointed out India's pivotal role in global climate solutions, requiring over USD 10 trillion by 2070 to hit net-zero targets. The infusion aligns with GCF's goals and sets a precedent for scalable solutions in emerging markets.

(With inputs from agencies.)