NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

India’s climate-focused venture capital firm Avaana Capital said on Wednesday it raised $70 million in its first funding round as it looks to invest in the clean energy and climate-technology space.

This is the first close in the Avaana Climate and Sustainability Fund, India’s first tech-led climate fund, meaning it can start investing in companies while raising capital for its own fund.