Fund News
Avaana Capital makes draws first tranche from Green Climate Fund’s $24.5 M commitment
Mumbai-based sustainability-focused venture capital fund Avaana Capital has drawn the first tranche of the Green Climate Fund’s (GCF) USD 24.5 million investment into the Avaana Sustainability Fund, marking GCF’s first investment in India. The drawdown was anchored by the Small Industries Development Bank of India (SIDBI).Avaana Capital had closed its USD 135 million climate and sustainability-focused fund in October last year with support from GCF and other key participants including US International Development Finance Corporation (DFC), UK Government through UK- India Development Cooperation Fund (UKIDCF), the Self Reliant India (SRI) Fund and Small Industries Development Bank of India (SIDBI), Azim Premji Trust and several large corporations.
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