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SIDBI launches First Green Climate Fund project to invest $120M in MSMEs
IndianStartupNews
·
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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UN’s Green Climate Fund to back SIDBI’s MSME support programme
VCCircle
·
1y ago
Medial
The Green Climate Fund, which supports climate-resilient projects globally, will invest $215.6 million in the Small Industries Development Bank of India's (SIDBI) programme to support micro, small, and medium enterprises (MSMEs). The funding aims to promote the adoption of low-emission and climate-resilient technologies by Indian MSMEs. Additionally, the programme will facilitate access to climate finance for MSMEs by leveraging investments from private-sector entities like non-banking financial companies and microfinance institutions. This investment is the Green Climate Fund's second initiative in supporting Indian climate-focused initiatives.
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BluSmart backer Green Frontier Capital launches maiden VC fund
VCCircle
·
8m ago
Medial
Green Frontier Capital, a climate-focused venture capital firm, has launched its first SEBI-approved alternative investment fund. The Green Frontier Capital India Climate Opportunities Fund aims to raise Rs 1,500 crore and will invest in Indian companies that are working on transformative climate technologies. The fund will focus on digitisation, decarbonisation, and disruption, targeting sectors such as Internet of Things, AI, emissions reduction, and sustainable food systems. Green Frontier Capital aims to support companies that can become leaders in their categories while aligning with India's sustainable growth goals.
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SIDBI Secures $24.5 Mn For Its Maiden Climate Tech Fund
Inc42
·
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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SIDBI project gets $215.6M funding from Green Climate Fund
YourStory
·
1y 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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UGRO Capital Supports 135K MSMEs, Highlights ESG & SDG Impact
StartupTalky
·
1m ago
Medial
UGRO Capital has released its third Social Impact Report, highlighting its support for over 135,000 MSMEs through financial inclusion, especially first-time and women entrepreneurs. This aligns with 11 UN Sustainable Development Goals, focusing on gender equality, clean energy, and climate action. UGRO disbursed INR 642 crore to green-sector MSMEs and emphasizes its ESG-led business model. The report is part of UGRO's #BharosaMSMEpar campaign, which encourages nationwide support for MSMEs.
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Colossa Ventures Marks First Close Of Women-Focused Fund At $12 Mn
Inc42
·
1y ago
Medial
Mumbai-based venture capital firm Colossa Ventures has closed the first round of funding for its women-focused fund at INR 100 Cr ($12 Mn). The Colossa WomenFirst Fund aims to invest in early-stage and growth-stage startups across sectors such as healthcare, fintech, climate, and consumer. It has received investments from institutions like SIDBI and family offices, and plans to have a total corpus of INR 500 Cr. The fund aims to unlock the potential of the Indian female economy and empower women entrepreneurs. Several other investors have also recently announced funds to support Indian startups.
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Avaana logs final close of $135-million climate fund
Economic Times
·
9m 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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TPG set to get LP cheque for $1 bn climate-focused fund with India mandate
VCCircle
·
4m ago
Medial
US-based private equity firm TPG is poised to secure an investment from a prominent limited partner for its climate-focused fund, the TPG Rise Climate Global South Initiative. This fund aims to raise up to $1 billion to invest in green businesses across emerging economies, with a focus on India. Through this initiative, TPG plans to bolster sustainable development by backing environmentally responsible companies and projects in these regions.
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IN-SPACe launches Technology Adoption Fund to support spacetech startups
YourStory
·
5m ago
Medial
The Indian National Space Promotion and Authorization Centre (IN-SPACe) has launched the Technology Adoption Fund to support startups in the spacetech industry. The fund offers financial assistance covering up to 60% of project costs for startups and MSMEs, and up to 40% for larger companies, with a maximum of Rs 25 crore per project. Alongside financial aid, it provides technical guidance and mentoring to propel the commercialization of space technologies and reduce reliance on imports.
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Cornerstone Ventures launches Fund II at $200 Mn
Entrackr
·
1y ago
Medial
Venture capital firm Cornerstone Ventures has announced the launch of its second fund with a target size of $200 million including a green-shoe option of $50 million. The fund ticket sizes range from $5 million to $15 million in a mix of early- to growth-stage startups. As per Cornerstone, it plans to invest in 15-20 startups with the latest fund. The Mumbai-based firm plans to invest across software platforms and marketplaces operating in sectors such as financial services and insurance, retail, consumer goods and ecommerce, distribution and supply chain, and healthcare products and services. Its portfolio companies of the first fund includes Credilo, THB, Blubirch, and Dhiway. The fund claims to have facilitated $1-2 million additional annual recurring revenue for each of its portfolio companies and been an active participant in their respective growth journeys. The firm first launched Cornerstone Ventures Fund-I in 2019 with a size of about $50 million. The fund was deployed across 21 portfolio companies, primarily focused on B2B enterprise software-as-a-service business models.
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