Avaana Capital secures $70m for climate fund

Bengaluru: Avaana Capital, a climate-focused venture capital firm, has secured commitments of $70 million for their first close in Avaana Climate and Sustainability Fund. The firm is targeting a total corpus of $100-125 million for the fund, which will focus investments in three sectors that are responsible for 90% of India's emissions: energy transition and resource management; mobility & supply chains, and; sustainable agriculture and food systems. It has attracted institutional investors, including Small Industries Development Bank of India (SIDBI), Self Reliant India (SRI) Fund, the UK India Development Cooperation Fund (UKIDCF) and marquee corporates such as Godrej Group, Murugappa, Torrent, Tsadik, and Bellerive Capital. Led by industry veterans Anjali Bansal, Swapna Gupta, and Shruti Srivastava, Avaana Capital has made portfolio investments such as Eeki Foods, Aerem, Kazam, sentra.world, FarMart, Eggoz, Ninety One 91, Turno and Terra.do. tnn
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