Avaana Capital marks final close of Sustainability Fund at $135 Mn

Avaana Capital, a climate-focused venture capital firm, has closed its $135 million Avaana Climate and Sustainability Fund.

Avaana Capital said the fund saw support from institutional investors, including the Green Climate Fund (GCF). Other key participants include U.S. International Development Finance Corporation (DFC), UK Government through UK- India Development Cooperation Fund (UKIDCF), the Self Reliant India (SRI) Fund and Small Industries Development Bank of India (SIDBI), Azim Premji Trust and several large corporations.

The Mumbai-based firm will invest in early-stage companies that use technology to create scalable solutions for climate mitigation, and adaptation, and help India’s journey to net zero.

Led by Anjali Bansal and Swapna Gupta, the Avaana Climate and Sustainability Fund will also invest in tech-driven and innovative climate solutions. Its notable portfolio investments include Eeki Foods, Aerem, Kazam, and Sentra.world, FarMart, Eggoz, Ninety One 91, Turno and Terra.do.

In June last year, Avaana Capital had raised $70 million for the first close of its Avaana Climate and Sustainability Fund.