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Avaana logs final close of $135-million climate fund
Economic Times
ยท
8m ago
Medial
Avaana Capital has closed its dedicated climate and sustainability-focused fund at $135 million. The firm will use the fund to invest in 20-25 early-stage companies focused on areas such as energy transition, supply chain, industrial decarbonisation, and food systems. The fund has already backed six startups. Avaana Capital's founding partner, Anjali Bansal, believes that climate change and sustainability are the next big problems to solve, with the potential for significant social and economic impact. The firm follows the Green Climate Fund framework and has received support from various sponsors and limited partners.
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Avaana nears target for $120 mn climate-tech fund with offshore LP on board
VCCircle
ยท
1y ago
Medial
Climate-focused venture capital firm Avaana Capital is close to reaching its target for a $120 million climate-tech fund. The fund has attracted a prominent offshore investor as it nears its final close. Avaana Capital previously closed the Avaana Sustainability Fund at $70 million in June 2021.
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Avaana gets backing of another offshore LP, nears target for climate-tech fund
VCCircle
ยท
1y ago
Medial
Climate-focused venture capital firm Avaana Capital is close to achieving its target for a $120 million climate-tech fund. The firm has received backing from an offshore investor and is edging closer to the final close of its maiden fund, the Avaana Sustainability Fund. In June last year, Avaana Capital reached the first close of $70 million for the fund.
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Avaana nears target for $120 mn climate-tech fund with offshore LP on board
VCCircle
ยท
1y ago
Medial
Climate-tech venture capital firm Avaana Capital is close to reaching its target of $120 million for its maiden climate-tech fund. The firm recently secured a significant offshore investor as it moves towards its final close. Avaana Capital had already achieved a first close on the Avaana Sustainability Fund in June 2020, raising $70 million. The fund focuses on supporting startups that are developing innovative solutions to address climate change and promote sustainability.
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Exclusive: Cleantech Startup Kazam To Raise $5 Mn From Vertex Ventures, Others
Inc42
ยท
11m ago
Medial
Electric mobility startup Kazam has raised an undisclosed amount of funding in its latest round. The funding was led by Avaana Climate Fund, with participation from Avaana Capital and Chakra India Growth Fund. Kazam offers hardware and software solutions for electric mobility, including charging infrastructure and fleet management. This comes after the startup raised $3.6 million in funding in May 2021, also led by Avaana Climate Fund.
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Avaana Capital makes first withdrawal from Green Climate Fundโs $24.5M commitment
YourStory
ยท
28d ago
Medial
Avaana Capital, a sustainability-focused venture capital fund, has secured its first tranche of the Green Climate Fund's (GCF) $24.5 million investment. This marks GCF's inaugural VC investment in India, facilitated by the Small Industries Development Bank of India and the Department of Financial Services. Avaana aims to channel this funding into early-stage companies that leverage technology for scalable climate solutions. This partnership underscores the economic potential within India's deep-tech sector.
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SIDBI Secures $24.5 Mn For Its Maiden Climate Tech Fund
Inc42
ยท
1y ago
Medial
Small Industries Development Bank of India (SIDBI) has received $24.5 million from the Green Climate Fund (GCF) for its Avaana Sustainability Fund (ASF). ASF is a $120 million venture capital fund that aims to invest in early-stage climate tech startups in India, particularly in sectors such as sustainable resource management, mobility and supply chains, and sustainable agriculture and food systems. The fund also aims to invest in low-carbon and climate-resilient businesses. The GCF is the world's largest climate fund and the fund is expected to make a significant impact on climate change mitigation and adaptation in India.
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Impact investor Asha Ventures raises $10 million from British International Investment
Economic Times
ยท
3m ago
Medial
Asha Ventures, a Mumbai-based impact investor, raised $10 million from British International Investment for its fund I, nearing a $91 million target. After a first close of $46 million in December 2023, including contributions from SIDBI and others, the final close is expected by September. Asha focuses on impact-driven, high-growth Indian businesses in financial inclusion, job creation, and climate resilience. Notable investments include firms like Ascend Capital and TrueMeds.
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SIDBI launches First Green Climate Fund project to invest $120M in MSMEs
IndianStartupNews
ยท
1y ago
Medial
The Small Industries Development Bank of India (SIDBI) has received approval from the Green Climate Fund (GCF) for its first-ever green climate project, the Avaana Sustainability Fund (ASF). The project involves a $120 million investment to support early-stage companies and micro, small, and medium enterprises (MSMEs) in implementing technology-led climate solutions and sustainability initiatives in India. The ASF aims to drive transformative climate action in key sectors while addressing challenges faced by MSMEs in adopting sustainability measures. SIDBI, as an Accredited Entity of the GCF, is committed to supporting low-carbon and climate-resilient projects in India.
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Fund 2 tops aim but fundraising environment not easy: Avaana Capitalโs Bansal
VCCircle
ยท
8m ago
Medial
Domestic venture capital firm, Avaana Capital, has closed its second fund, which focuses on investments in climate and sustainability startups. Despite the typical ease of raising the second fund compared to the first, Avaana Capital's founding partner, Anjali Bansal, acknowledges that the fundraising environment is currently challenging. Bansal highlights the importance of factors such as a focused investment thesis and a strong impact-driven approach in navigating these difficult times.
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SIDBI project gets $215.6M funding from Green Climate Fund
YourStory
ยท
11m ago
Medial
The Green Climate Fund (GCF) has approved a $215.6 million loan facility for Small Industries Development Bank of India (SIDBI) to implement Financing Mitigation and Adaptation Projects (FMAP) in Indian small businesses. The funding aims to support Indian micro, small and medium enterprises in adopting low-emission and climate-resilient technologies, contributing to India's net-zero targets. The facility includes $200 million for concessional loans and a $15.6 million grant to build the capacity of stakeholders. This initiative is expected to result in significant greenhouse gas emission reductions and enhance the resilience of vulnerable communities. SIDBI has already allocated $24.5 million to Avaana Sustainability Fund under this facility.
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