Avaana Capital has announced the first drawdown of GCF’s USD 24.5 million investment into the Avaana Sustainability Fund, anchored by the Small Industries Development Bank of India (SIDBI) as the accredited entity under the guidance of Department of Financial Services (DFS). This investment marks a significant milestone as GCF’s first venture capital investment in India, and reflects growing global conviction in the strength of India’s deep-tech innovation ecosystem.
Avaana Capital is committed to enabling India’s economic growth through innovation and technology-led solutions. It invests in and supports deep tech entrepreneurs and startups leveraging frontier innovation to pioneer globally competitive solutions in Energy, Supply Chains, Food and Agriculture and Advanced Materials. Avaana Capital aims to catalyze future-ready, cost-effective technologies—built in India, for India, and for the world.
Secretary of the Department of Financial Services, Ministry of Finance, Government of India, M. Nagaraju, presented a cheque to mark the disbursement of funds, backed by the GCF and anchored by SIDBI under the guidance of DFS. Senior officials from DFS, CMD SIDBI, and the Founding Partner of Avaana Capital attended the event. The moment reflects a powerful convergence of national policy vision, institutional leadership, and global catalytic capital—working in sync to building the foundation for India’s deep tech and sustainability-led growth.
“We are honoured to partner with SIDBI and the GCF. As India moves toward its Viksit Bharat 2047 vision, accelerating deep tech innovation is both an opportunity and a necessity. This partnership represents the large economic opportunity for India’s deeptech ecosystem—bringing together global capital to build solutions in energy, supply chains, advanced materials, and agriculture that are technology first and rooted in Indian innovation. Our sincere thanks to SIDBI, and the GCF team for their leadership, partnership and conviction in India’s deep tech innovation ecosystem,” said Anjali Bansal, Founding Partner at Avaana Capital.
Manoj Mittal, Chairman and Managing Director SIDBI said, “SIDBI is promoting sustainability among MSMEs by integrating green finance, encouraging energy efficiency and supporting eco-friendly business practices through innovative financial and developmental interventions which is key to building a resilient, inclusive and future ready economy. This milestone for Avaana Capital underscores a broader trend where India continues to position itself as a key player in addressing global challenges through technology and innovation. The Avaana Sustainability Fund is uniquely poised to drive transformative growth in India’s deep-tech landscape, fostering solutions that not only mitigate climate impact but also unlock new economic opportunities.”