Avaana Capital unlocks $24.5M from Green Climate Fund to back India’s deeptech climate startups

Avaana Capital has announced the first drawdown of GCF’s $24.5 million commitment into its Avaana Sustainability Fund marking the Green Climate Fund’s first-ever VC investment in India.

The milestone was enabled through SIDBI(Small Industries Development Bank of India), under the guidance of the Department of Financial Services (DFS), Ministry of Finance.

The fund will back deeptech and frontier innovation in:

• Energy
• Supply chains
• Advanced materials
• Agriculture

“As India moves toward its Viksit Bharat 2047 vision, accelerating deep tech innovation is both an opportunity and a necessity,” said Anjali Bansal, Founding Partner, Avaana Capital.

“SIDBI is promoting sustainability among MSMEs by integrating green finance, encouraging energy efficiency and supporting eco-friendly business practices,” added Manoj Mittal, Chairman & MD, SIDBI.

Why it matters:

This marks a global vote of confidence in India’s ability to pioneer climate-first, tech-enabled solutions and positions Avaana as a key player in shaping a low-emission, climate-resilient economy.

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