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Avaana Capital Secures Green Climate Fund Investment, Pioneering Sustainable Ventures in India

GCF Backs Avaana Capital Major Investment Boost for India's Sustainable Future


Avaana Capital Secures Green Climate Fund Investment, Pioneering Sustainable Ventures in India

Avaana Capital, a key player in sustainable investments, has achieved a major milestone with the approval of a significant investment from the Green Climate Fund (GCF) in its “Avaana Climate and Sustainability” fund. The total value of the fund amounts to USD 120 million, with a substantial USD 24.5 million investment from the GCF. This collaboration marks a significant step towards fostering climate innovation and sustainability in India and is a testament to Avaana’s commitment to driving impactful change.

The partnership between Avaana Capital and the GCF underscores a collaborative effort towards driving climate resilience and sustainable development. It is noteworthy that this is the first climate venture fund in India to be financed by the GCF, highlighting the fund’s recognition of Avaana’s strategic approach and its alignment with national priorities.

Anjali Bansal, Managing Founder of Avaana Capital, expressed her delight at the approval of the investment, stating, “This milestone represents the culmination of dedicated efforts, with gratitude extended to the Green Climate Fund team for their unwavering support and guidance throughout this journey.” She also emphasized the transformative impact of technology and innovation in shaping low-emission and climate-resilient development pathways.

The GCF, recognized as the world’s largest climate fund, is dedicated to supporting developing countries in implementing climate action projects. Its commitment to providing financial resources for climate change adaptation and mitigation aligns well with Avaana’s mission to drive climate innovation and sustainable development.

Avaana’s philosophy revolves around the belief that substantial outcome creation along India’s path towards net-zero emissions necessitates an ecosystem approach. This approach integrates critical elements of technology, policy, industry, and academia, positioning Avaana at the forefront of emerging technologies and investment areas.

Kavita Sinha, Director of GCF Private Sector Facility, remarked, “The Green Climate Fund is proud to partner with Avaana Capital and SIDBI to support the Avaana Sustainability Fund. This partnership exemplifies our shared commitment to fostering climate resilience and sustainable development in India.”

Avaana’s focus on technology and innovation as catalysts for climate action is evident in its proactive thesis-led sourcing approach for tracking high-quality entrepreneurs and follow-on investments in portfolio companies. This approach facilitates the scaling of these ventures and contributes to India’s transition to a low-emission, climate-resilient future.

Overall, the partnership between Avaana Capital and the Green Climate Fund represents a significant step forward in advancing India’s commitment to driving climate innovation and taking meaningful action towards a sustainable future.

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