Avaana Capital has announced that the Green Climate Fund (GCF) has sanctioned a significant $24.5 million investment in its climate and sustainability fund. The Avaana Capital’s climate and sustainability fund, valued at $120 million, of which $24.5 million is contributed by GCF, is promoting climate innovation and sustainability initiatives in India.
The investment by the GCF in India’s inaugural technology-driven climate venture capital firm highlights the significant role that technology and innovation play in shaping low-emission and climate-resilient development routes. The collaboration between the GCF, Avaana Capital, and SIDBI, a GCF direct access entity, to bolster the Avaana sustainability fund seeks to facilitate the commercialisation of indigenous, nascent climate technology startups. These ventures are poised to facilitate India’s shift towards a low-emission, climate-resilient future.
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