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§ Venture Capital · India
Venture capital firm investing in early-stage climate solutions startups, providing funding for energy transition and food systems.
Avaana Capital is an early-stage venture capital firm based in Mumbai, India, that invests in technology-driven climate solutions and sustainability startups. The firm focuses on commercializing new innovations across critical sectors such as energy transition, resource management, sustainable mobility, and climate-resilient food systems. In June 2024, the organization successfully closed its flagship Avaana Climate and Sustainability Fund at a total of $135 million, bringing its operations to two closed venture funds. The firm's capital base includes a $24.5 million financial commitment from the Green Climate Fund, marking the institution's first direct investment in an Indian climate venture fund. The firm's active investment portfolio features early-stage climate startups like FarMart and Kazam, alongside broader technology investments in prominent consumer companies such as Delhivery and Nykaa. Avaana Capital was officially founded in Mumbai in 2018 by Anjali Bansal.
Key people at Avaana Capital.
Avaana Capital was founded in 2018 by Vikas Verma (Co-Founder and CEO).
Avaana Capital was founded in 2018 by Vikas Verma (Co-Founder and CEO).
Avaana Capital is an early-stage venture capital firm based in Mumbai, India, focused on investing in technology-driven startups that address climate action and sustainability challenges. Their mission is to empower visionary founders to build transformative, large-scale businesses that contribute to climate solutions and sustainable consumption and production. Avaana invests primarily in sectors such as energy, mobility, supply chains, agriculture and food systems, advanced materials, robotics, AI, and biotech, targeting companies with high growth potential and global competitiveness. The firm supports startups not only with capital but also with deep domain expertise, business-building capabilities, and ecosystem connectivity to accelerate their growth and market leadership[1][2][3][5].
Founded in 2018, Avaana Capital was established to back early-stage companies leveraging frontier innovation to create climate and sustainability solutions emerging from India. The founding team includes key partners such as Anjali Bansal (Founding Partner) and other senior investment professionals based in Mumbai. Over time, Avaana has evolved its focus to encompass a broad thematic investment approach across climate-tech sectors, supporting startups from pre-seed to Series A stages. The firm has built strong relationships with incubators, accelerators, policymakers, and industry players to foster innovation and scale solutions globally[2][3][6].
Avaana Capital rides the global trend of climate-tech and sustainability innovation, which is gaining urgency due to climate change and resource constraints. The timing is critical as India and emerging markets seek scalable, technology-led solutions to reduce greenhouse gas emissions, improve resource efficiency, and build resilient food and energy systems. Avaana’s focus on frontier innovation and deep tech positions it to influence the ecosystem by nurturing startups that can become global leaders, thereby advancing India’s role in the global climate solutions market. Their engagement with policy and academia further amplifies their impact by shaping enabling environments for innovation[1][3][5].
Looking ahead, Avaana Capital is poised to expand its portfolio and deepen its influence in climate-tech innovation, leveraging its strong ecosystem and catalytic capital approach. Trends such as energy transition, regenerative agriculture, AI-enabled sustainability, and advanced materials will likely shape their investment focus. As climate urgency intensifies, Avaana’s role in scaling transformative startups will become increasingly vital, potentially positioning it as a key driver of India’s and the global climate-tech ecosystem. Their continued collaboration with policymakers and industry will be crucial to unlocking new opportunities and accelerating the transition to sustainable economies[3][5].
In summary, Avaana Capital stands out as a mission-driven venture capital firm dedicated to backing visionary founders who are building globally competitive climate and sustainability solutions from India, supported by a comprehensive ecosystem approach and a strong track record in early-stage investing.
Avaana Capital has more than 26 tracked investments across 20 companies. The latest tracked deal is $14.9M Pre-Series B in Aerem in January 2026.
Key people at Avaana Capital.