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VC fund (Cat II) · Curated list

Avaana Capital

Seed · Climate & Clean energy · Bengaluru

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Contact on file — shared on accepted request

At a glance

Stage focus: Seed
Primary sector: Climate & Clean energy
City: Bengaluru
HQ / office: Mumbai (HQ): 1103 Lodha Supremus, Dr E Moses Road, Worli, Mumbai 400018, Maharashtra. Bengaluru office: 4th Floor, Kabra Excelsior, 6/A, 80 Feet Rd, Koramangala 3rd Block, Bengaluru 560034. Phone: +91 22 6121 2121.
Fund registered: 2018
Investments on record: 35
Corpus (as reported): USD 135 million — Avaana Climate and Sustainability Fund, final close October 2024 (raised against an initial ~USD 120M target). Includes a USD 24.5M commitment from the Green Climate Fund (GCF's first direct investment in an Indian climate fund).
Website: avaanacapital.com
LinkedIn: Profile ↗

About

Avaana Capital is a Mumbai-based, early-stage venture capital firm founded in 2018, positioned as India's first and largest dedicated climate-tech and sustainability VC. It is led by Founder & Managing Partner Anjali Bansal (former Global CEO of Spencer Stuart India / TPG-Growth advisor), with partners Swapna Gupta and Shruti Srivastava. Its flagship Avaana Climate and Sustainability Fund (USD 135M, final close Oct 2024) invests in technology-led solutions for climate mitigation, adaptation and resilience. The managing entity is Avaana Capital Advisors LLP (designated partners Anjali Bansal, Bobby Parikh, Nirali Sanghi).

Investment focus

Early-stage (seed to Series A/B) climate-tech and sustainability VC. Focus on three themes driving ~90% of India's emissions: energy transition & resource management; mobility & supply chains; and sustainable agriculture & food systems. Broader deep-tech adjacencies include advanced materials, robotics/precision engineering, AI, space tech and bio-manufacturing.

Cheque size

INR 10-30 Cr initial cheque, with follow-on into successful ventures (early-stage climate-tech)

As compiled from public sources — verify with the investor.

SEBI registration

SEBI AIF Category II — reported as “Sector fund (early-stage climate/sustainability VC) / Cat II”

IN/AIF2/18-19/0565
IN/AIF2/22-23/1034
IN/AIF2/22-23/1033
IN/AIF2/26-27/2165

SIDBI Fund of Funds

On the SIDBI FFS list

Funds: Avaana Capital Growth Fund I; Avaana Sustainability Fund

Yes — on official SIDBI FFS supported-AIF list (Avaana Capital Growth Fund I; Avaana Sustainability Fund)

Notable portfolio

FarMart; Kazam; Eeki Foods; Aerem; Eggoz; Turno; Dharaksha Ecosolutions; AmpereHour Energy

Team & organisation

Founder-led by Anjali Bansal (Founding Partner, ex-TPG Growth MD); multi-person investment team (exact partner count not published)

Avaana Capital (founded 2018, Mumbai) — manager of the Avaana Climate & Sustainability Fund, a SEBI Category II AIF (climate/sustainability VC); Cat-II AIF structure with GCF/SIDBI/DFC as institutional LPs.

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Frequently asked

What does Avaana Capital invest in?: Early-stage (seed to Series A/B) climate-tech and sustainability VC. Focus on three themes driving ~90% of India's emissions: energy transition & resource management; mobility & supply chains; and sustainable agriculture & food systems. Broader deep-tech adjacencies include advanced materials, robotics/precision engineering, AI, space tech and bio-manufacturing.
What cheque size does Avaana Capital write?: As compiled from public sources: INR 10-30 Cr initial cheque, with follow-on into successful ventures (early-stage climate-tech)
How do I pitch Avaana Capital through iHub India?: Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.

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About this record

⚑ Private VC (managing entity: Avaana Capital Advisors LLP — an active SEBI-AIF manager / LLP). NOTE: the fund is heavily anchored by development-finance/government LPs — Green Climate Fund (~USD 24.5M), US DFC, UK Government (UKIDCF), SIDBI's Self-Reliant India (SRI) Fund, plus Azim Premji Trust. The MANAGER is private, but a large share of capital is public/DFI-sourced; verify LP composition if a fully private vehicle is required. CAUTION: third-party aggregators (Tracxn) erroneously list Urban Company, Nykaa and Delhivery as Avaana portfolio companies — these are NOT Avaana climate-fund investments and were excluded. The lapsed domain avaana.vc does not resolve; the live official domain is avaanacapital.com.

Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.

Sources: https://avaanacapital.com; https://www.greenclimate.fund/project/sap037