Mumbai-based climate-tech venture capital fund Avaana Capital has roped in Vishnu Rajeev - the erstwhile Mobility and Climate Tech Lead at Axilor Ventures - as an Investment Principal and promoted Shruti Srivastava, former Principal to the role of Investment Director.
With these developments, the fund furthers its commitment to investing in technology-driven global climate solutions from India, and strengthening India’s climate-tech ecosystem, it said in a statement.
In addition to investments, Rajeev and Srivastava will work closely with founders and portfolio companies in the fund’s focus sectors of energy transition, resource management, mobility, supply chain decarbonisation, and sustainable agriculture and food systems.
Over a career spanning more than a decade, Rajeev has gained climate expertise across roles in strategy consulting, public policy, entrepreneurship and venture capital. Consulting with FSG and Monitor-Deloitte, he has led teams in environment and clean energy. He has also worked as an analyst for the Council on Energy, Environment, and Water, where he wrote several papers on deep-tech startups and energy.
Srivastava comes with extensive experience investing in energy transition and food systems, and at Avaana has been closely involved with companies such as Turno, Praman (Intello Labs) and Praan. She also spearheads the Fund’s ESG and Impact Measurement work.
The new role acknowledges her significant thought leadership and contributions to the Fund. Armed with a decade of experience in early-stage investing, private equity, and development finance, she brings in immense knowledge to the table.
She is a member of the GIIN IRIS+ working group on climate impact measurement and has also recently been awarded "Top 100 Women in Finance” in India by a global membership network of financial services professionals and leaders called Equalifi (formerly AIWMI).
“We are delighted to welcome Vishnu to the Avaana team and to recognise Shruti’s exceptional contributions to Avaana. Climate action and sustainability are emerging as the next big mega trend, with significant global capital coming in the space. We are seeing exceptional founders now working to solve global climate. In India, the confluence of significant corporate interest, policy support, continuing technology and digitisation and excellent quality of entrepreneurial talent makes it a window of opportunity for Avaana. We already see 200 new climate opportunities every quarter, and our team enhancements have only accelerated our ongoing momentum,” said Anjali Bansal, founding partner of Avaana Capital.
Avaana Capital manages Avaana Climate and Sustainability Fund, India’s first and largest climate-tech venture capital fund. Avaana invests in future market leaders at the early-stage, leveraging technology-led innovation to build and scale solutions for climate and sustainability while delivering exponential returns.
Image: (Left) Vishnu Rajeev; (Right) Shruti Srivastava