The fund has institutional investors like Small Industries Development Bank of India (SIDBI), Self Reliant India (SRI) Fund, and the UK India Development Cooperation Fund (UKIDCF). Godrej Group, Murugappa, Torrent, Tsadik, and Bellerive Capital are among companies investing in the fund.
The home-grown firm said it is targeting a total corpus of $100-125 million for the fund, which will invest in sectors like energy transition and resource management, mobility and supply chains, and sustainable agriculture and food systems.
Avaana Capital has portfolio investments in Eeki Foods, Aerem, Kazam, sentra.world, FarMart, Eggoz, Ninety One 91, Turno and Terra.do.
Suresh Kohzikote, of Self Reliant India (SRI) Fund, said: “The SRI Fund’s investment objective is to support onward growth capital to boost the economy and create a self-reliant India. Our partnership with Avaana Climate and Sustainability Fund—India’s first tech-led climate fund—is to realise those objectives through climate solutions from India.”