Avaana Capital hits first close of $70-M for climate-focused fund

Mumbai-based Avaana Capital has raised USD 70 million in the first close of Avaana Climate and Sustainability Fund. With a target corpus of USD 100-125 million, the fund will focus on three sectors: energy transition and resource management; mobility and supply chains, and sustainable agriculture and food systems. Founded by Anjali Bansal, Avaana Capital is an early-stage climate-tech investor in India. It has invested in sustainable farming startup Eeki Foods, solar rooftop financing company Aerem, and electric vehicle charging software platform Kazam, among others.