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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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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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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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Northern Arc Gets $65 Mn Debt Commitment For Maiden Climate Fund
Inc42
·
9m ago
Medial
Northern Arc, a financial institution based in GIFT City, has secured $65 million in debt commitments. The funds come from the US DFC, contributing $50 million, and Austria's OeEB, contributing $15 million. The climate fund will primarily focus on providing debt financing for solar energy, green buildings, and sustainable agriculture companies. This announcement follows Northern Arc's recent launch of a ₹1,500 crore (approximately $202 million) AIF with a ₹500 crore green shoe option.
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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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AFC’s maiden climate resilient fund for Africa taps offshore LP for $750 mn vehicle
VCCircle
·
1y ago
Medial
AFC Capital Partners, the asset management unit of Africa Finance Corporation (AFC), is raising funds for its Infrastructure Climate Resilient Fund (ICRF) in Africa. With an anchor commitment of $253 million from the Green Climate Fund, AFC Capital is aiming to raise a total of $750 million for ICRF. The fund aims to finance climate resilience infrastructure projects across the continent. AFC Capital is currently seeking additional limited partners to contribute to the fund.
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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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Stride Green raises $3.5 Mn in seed round
Entrackr
·
2m ago
Medial
Stride Green raises $3.5 Mn in seed round Gurugram-based climate-tech platform Stride Green has raised $3.5 million in a seed funding round led by Micelio Technology Fund and Incubate Fund Asia, along with participation from other strategic investors. The proceeds will be used to expand the team, enhance its technology platform, and support its growth across India's clean energy transition sectors, including electric mobility, battery storage, and renewable energy. Founded by Ishpreet Gandhi and Vivek Jain, Stride Green provides asset financing and lifecycle management solutions tailored for sustainable businesses. It uses its proprietary tech stack to offer real-time analytics, alerts, and operational insights aimed at improving asset performance and longevity. The platform currently manages over 3,000 cleantech assets and collaborates with original equipment manufacturers and logistics firms. Stride Green facilitates leasing and financing solutions for these sectors, enabling companies to scale sustainably. Stride Green is also planning geographical and vertical expansion to deepen its role within the climate-tech space.
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Continuum Green Energy gets $150 mn from Al Gore-backed climate investor
VCCircle
·
11m ago
Medial
Indian renewable energy company, Continuum Green Energy, has raised $150 million in equity capital from UK-based climate investment firm, Just Climate. This investment will support Continuum's deployment of wind-solar hybrid generation and storage projects across India, as it looks to add another 1.3GW over the next few years. Just Climate aims to enable capital flows to the Global South, including India, as part of its climate-led investing strategy. Continuum is backed by Morgan Stanley Infrastructure Partners and is planning to go public in the near future.
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Avaana gets backing of another offshore LP, nears target for climate-tech fund
VCCircle
·
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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