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Avaana Capital Founding Members (L-R) Anjali Bansal, Swapna Gupta, and Shruti Srivastava
Avaana Capital, an early-stage venture capital firm focused in climate technology startups, has has raised $70 million for its Climate and Sustainability Fund to invest in technology-driven solutions for climate-related issues.
The investment was led by institutional investors such as Small Industries Development Bank of India (SIDBI), Self Reliant India (SRI) Fund, and the UK India Development Cooperation Fund (UKIDCF). Notable companies like Godrej Group, Murugappa, Torrent, Tsadik, and Bellerive Capital have also invested in the fund.
Avaana Capital plans to raise a total of $100-125 million for the fund. The fund will focus on investing in sectors like energy transition, resource management, mobility and supply chains, as well as sustainable agriculture and food systems.
Led by Anjali Bansal, Swapna Gupta, and Shruti Srivastava, Avaana Capital already has several portfolio investments in companies such as Eeki Foods, Aerem, Kazam, sentra.world, FarMart, Eggoz, Ninety One 91, Turno, and Terra.do.
“With significant global capital flowing, supportive policies, corporate interest and wealth of entrepreneurial talent in the climate sector, India’s climate-tech story is rapidly progressing. At Avaana Climate and Sustainability Fund, we evaluate over 200 new climate opportunities every quarter,” said Anjali Bansal, founding partner, Avaana Capital.
“India, with its responsibility to uplift the standards of living for over 400 million citizens, requires swift acceleration in the adaptation and adoption of technology for climate action. Avaana is the leader in climate tech and the crucial mission of mitigating climate risk,” said S Ramann, chairman and managing director of SIDBI.
Led by Anjali Bansal, Swapna Gupta, and Shruti Srivastava, Avaana Capital is an early-stage investor in climate technology startups in India.
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