Avaana Capital, an Indian venture capital firm, has launched its Avaana Climate and Sustainability Fund worth US$135 million.

The fund aims to aid early-stage companies using technology for climate adaptation and mitigation across the world’s most populous nation.

Notable contributors include the Green Climate Fund, which marks its first direct investment in India.

Other backers are the US International Development Finance Corporation, UK-India Development Cooperation Fund, Self Reliant India Fund, Small Industries Development Bank of India, and Azim Premji Trust.

The fund will focus on energy management, mobility, supply chains, and sustainable agriculture.