Avaana Capital is known as India's first tech-focused climate venture fund and has been backed by the Green Climate Fund, and instead of investing mostly in software, it focuses on industrial and deep-tech areas like mycelium packaging, insect biotech, precision fermentation, and battery systems, while reserving most of its fund for follow-on investments in companies it has already backed. Its founder, Anjali Bansal, has a background spanning ISRO, McKinsey, TPG Growth, and leading Dena Bank through a merger, and the fund works with founders through a team that includes people from technology, industry, and policy backgrounds rather than acting as a typical deal-sourcing investor.