Avaana Capital Draws First Tranche of GCF's USD 24.5mn

Avaana Capital Draws First Tranche of GCF’s USD 24.5mn

By Saur News Bureau/ Updated On Wed, Jun 18th, 2025

Jupiter SAvaana Capital Draws First Tranche of GCF's USD 24.5mn ecures ₹500cr Investment From ValueQuest SCALE Fund

Avaana Capital has announced the first drawdown of the Green Climate Fund’s (GCF) USD 24.5 million commitment to the Avaana Sustainability Fund, marking the GCF’s first venture capital investment in India. The investment is anchored by the Small Industries Development Bank of India (SIDBI), acting as the accredited entity under the guidance of the Department of Financial Services (DFS), Ministry of Finance.

The milestone reflects growing global confidence in India’s deep-tech innovation ecosystem and underlines the convergence of international capital with national policy priorities aimed at sustainable economic growth.

Avaana Capital focuses on investing in technology-led solutions in sectors such as energy, sustainable supply chains, agriculture, and advanced materials. Its portfolio champions frontier innovations designed to deliver globally competitive, cost-effective solutions “built in India, for India and for the world.”

The drawdown was formally marked with a cheque presentation by M. Nagaraju, Secretary, DFS, in the presence of senior officials from DFS, SIDBI, and Avaana Capital. The event highlighted the alignment of institutional leadership and global finance to foster sustainability-led innovation in India.

“We are honoured to partner with SIDBI and the GCF,” said Anjali Bansal, Founding Partner at Avaana Capital. “As India pursues its Viksit Bharat 2047 vision, deep-tech innovation presents both a necessity and a significant economic opportunity. This partnership brings global capital to support transformative solutions in energy, agriculture, and materials science—rooted in Indian ingenuity.”

SIDBI Chairman and Managing Director Manoj Mittal said the institution is committed to driving sustainability among MSMEs by integrating green finance, supporting energy efficiency, and encouraging environmentally responsible business practices.

“This milestone underscores India’s emergence as a key player in tackling global climate challenges through innovation. The Avaana Sustainability Fund is well-positioned to accelerate deep-tech development that not only reduces climate impact but also creates new economic opportunities,” he said.

About Avaana Capital and the Avaana Sustainability Fund:

Established in 2018, Avaana Capital invests in deep-tech startups addressing climate and sustainability challenges. Its portfolio includes startups such as: