Climate fund is the unheard scam of the financial world. Its probably the best  scam. 

Climate chnage nonsense is propagated by left liberal idiots. Media is primarily leftist controlled.  If they suffer loss, the media will not highlight it, if they  do people might start  questioning. This is practically  free money. Best  scam ever.

Consultant

Avaana Capital has finalized its early stage fund at $135M, focusing on climate mitigation and sustainability.  The fund exceeded its initial target of $100$120M and aims to invest in 2025 cleantec...

Welcome to News Discussion's Private Community

- Avaana Capital has finalized its early stage fund at $135M, focusing on climate mitigation and sustainability.
- The fund exceeded its initial target of $100-$120M and aims to invest in 20-25 cleantech startups.
- Capital was raised from various institutions including GCF, UKIDCF, and SIDBI.
- The fund will support startups in energy & resource management, mobility & supply chains, and sustainable agriculture & food systems.
- Avaana Capital's portfolio includes FarMart, Kazam and Darwinbox.

Source: [Inc42](https://inc42.com/buzz/avaana-marks-final-close-of-climate-fund-at-135-mn/)

Avaana Capital Closes Climate Fund at $135M

Journalist

Avaana Capital Closes Climate Fund at $135M- Grapevine

- Accel gearing up for eighth India fund, aiming for $600-700M by end of 2024
- First major VC fundraise after 2022's funding winter, signaling potential market thaw
- Firm's stable team and strong track record expected to attract significant LP interest
- Accel known for early bets on Flipkart and Freshworks, seeks to maintain early-stage edge
- Company culture praised for alignment and handling of failures, but some sector gaps noted 

 Source: [The Arc](https://thearcweb.com/article/accel-india-fund-flipkart-freshworks-venture-capital-1lhpqpT5OmDbBxTs)

Accel Targets $700M India Fund, Largest Yet Amid VC Landscape Shifts

Good to see some funding activity in the Climate tech space, much needed

Software Developer

Welcome to Indian Startups's Private Community

- Sarvam AI - $41M (Lightspeed and Peak XV) 
- Mad Street Den - $67M (Avatar, Peak XV) 
- Wysa - $25M 
- Neysa Networks - $20M (Matrix Partners) 
- Scribble Data - $2.3M (Blume Ventures) 
- Expertia AI - $1.3M (Chiratae Ventures) 
- OnFinance - $ 1.1M (Silverneedle Ventures) 
- Krutrom AI - $50M (Matrix Partners)

India’s biggest Ai startups that raised more than $1M

Operations Manager

- Omnichannel jewelry startup **Giva** has raised **Rs 255 crore** in an extended Series B round.
- Early backers **A91 Partners** and **India Quotient** partially exited, realizing significant returns.
- Funds will be used to expand Giva's offline presence, which includes around **150 physical stores** nationwide.
- Giva's revenue grew by **96.4%** in FY23, reaching Rs 165 crore, while losses widened to Rs 45 crore.
- The company competes with brands like **Melorra, Bluestone, CaratLane**, and others.

Source: [Entrackr](https://entrackr.com/2024/10/giva-raises-rs-255-cr-a91-and-india-quotient-get-exit-worth-rs-166-cr/)

Giva Raises Rs 255 Cr in Extended Series B, A91 and India Quotient Partially Exit

Udaan is planning to raise additional 250 million dollars from existing investors. Udaan is expecting to undergo massive valuation undercut.

Link: https://entrackr.com/2023/08/exclusive-udaan-in-talks-to-raise-new-round-valuation-may-drop-significantly/

B2B Ecommerce gaint Udaan is in advance stage to raise equity funding

Project Manager

- Aye Finance, a microlending platform, has raised Rs 250 crore ($30 million) in a Series G round led by Singapore's ABC Impact.
- British International Investment, which led Aye's Series F round, also participated in this round.
- This investment is the first from ABC Impact's Fund II, boosting the firm's assets under management to over $850 million.
- Aye Finance now operates in 398 locations across 22 states in India, offering loans to micro and small enterprises.
- The company reported a 67% increase in revenue to Rs 1072 crore for FY24, with profits tripling to Rs 161 crore. 

 Source: [Entrackr](https://entrackr.com/2024/09/aye-finance-raises-30-mn-in-series-g-round/)

Aye Finance raises $30 Mn in Series G round

Been spending way too much time on Grapevine lately - absolutely loving it @Micheal_Scott!

Posted the Prosus report takeaways yday - lots of you DMed asking questions. Then I saw NewsAnchor break down the entire Prosus Annual Report - great stuff.

I was an Associate at one of the largest VC funds in India, so I enjoy going through new reports and summarising them - found my notes from Bain's India Venture Capital Report 2024. Thought of sharing the unedited summary that I shared with the Partners at the fund, have a bunch of these - can share more if of value to any of you here (ofc removing the confidential parts)

Notes:
1/ India's maintaining its gravitational pull despite the global funding crunch. Sure, overall funding nosedived 63% to $9.6B, but we're still the #2 destination in Asia-Pacific. Might not necessarily be a crash, it's a necessary course correction.
2/ Early-stage investing is showing remarkable resilience. Seed deals now comprise 70% of all deals, up from 60%, with average check sizes holding steady at $1.4M. Smart money is quietly positioning itself for the next wave of innovation.
3/ The tech-only playbook is being rewritten. While consumer tech, fintech, and SaaS still command 60% of funding, traditional sectors like BFSI are gaining ground, with average deal sizes jumping from $8M to $15M. We're witnessing the birth of tech-enabled, not just tech-centric, growth stories.
4/ The unicorn factory has hit pause, with only 2 new billion-dollar valuations vs. 23 in 2022. Mega-rounds ($100M+) plummeted from 48 to 15. This isn't a drought; it's a return to fundamentals. The era of grow-now-profit-later is firmly behind us.
5/ Generative AI isn't just hype; it's reshaping the landscape. Funding exploded from $15M to $250M, with 80% flowing to existing companies integrating AI. India's quickly becoming a laboratory for practical AI applications, not just speculative moonshots.
6/ Electric mobility is rewiring itself. While overall funding dipped slightly to $600M+, charging infrastructure investment surged 50%. The real opportunity isn't just in vehicles; it's in building out the entire EV ecosystem.
7/ Exits are defying gravity, leaping 1.7x to $6.6B. Public market sales led the charge at 55%, even as IPOs cooled. LPs are getting liquidity, and the secondary market is proving surprisingly robust. There's still appetite for quality assets.
8/ PE is no longer just watching from the sidelines. These players doubled their share to 25% of investments, going toe-to-toe with traditional VCs. The lines between growth equity and venture capital are blurring, and it's changing the game for late-stage rounds.
9/ We're watching natural selection in real-time. Yes, 35,000+ startups shuttered and 20,000+ layoffs hit the headlines. But companies like Groww and Indifi turned profitable. This isn't a bubble bursting; it's an ecosystem strengthening its foundations.
10/ Domestic VCs are coming of age. While overall fund-raising halved to $4B, homegrown VCs led 90%+ of raises. They're not just following; they're specializing, with thematic funds like Omnivore's $150M agritech vehicle. The ecosystem is bootstrapping its own future.
11/ Regulation isn't just tightening; it's evolving. Angel Tax expanded and lending norms got stricter, but we're also seeing innovative policies like UPI for foreign travelers. India's crafting a uniquely balanced approach to fostering innovation while maintaining stability.

Topics we can discuss during our standup:
1/ Can India produce global tech giants if it's primarily adopting rather than pioneering in areas like AI? How do we enable this?
2/ How will the shift towards profitability impact India's ability to foster truly disruptive innovations? Implications for us, how should we be evaluating deals differently?
3/ With domestic VCs leading the charge, how will this change India's startup narrative on the global stage?
4/ Is this maturation setting the stage for more resilient, globally competitive Indian startups, or are we risking our innovation edge? How do we look at thesis driven investing v/s fomo investing?

Link to Bain's report - https://www.bain.com/insights/india-venture-capital-report-2024/

P.S. Do note that this is 6+ months old - data points mostly look diff now but sharing it anyways. Will post more as and when I get time :)

My notes on Bain's 2024 VC report as a VC Associate

Investor

In a landmark deal, Silicon Valley powerhouse General Catalyst has acquired Venture Highway, a seed-stage investment firm with a track record of backing winners like Meesho and Mobile Premier League.

The Deal:
- Rare instance of consolidation in the Indian VC market
- VH to be rebranded as General Catalyst India
- GC plans to invest $500 million to $1 billion in India over the next three years
- Acquisition driven by desire to build strong local team and tap into local LP network

But the move also raises important questions. Will this trigger a wave of consolidation in the Indian VC market? Will other global firms follow suit and snap up local players to gain a foothold in the country? And how will this influx of foreign capital shape the trajectory of India's startup ecosystem?

As the dust settles on this landmark deal, one thing is clear: India's startup scene is entering a new era, one where local innovation and global capital are increasingly intertwined.  Always long on India 🇮🇳

Image Credits: The Arc

General Catalyst's Venture Highway Acquisition: A Strategic Play for India 🇮🇳

What problems would Indian and Global startups be solving in the next decade, or they would be just throwing random yearly new buzz words and as usual VCs would be having orgasms on these buzz words.

I mean real problems.

Startups of the coming age

Frontend Engineer

- Axio, a digital lending firm backed by Lightrock, has secured $20 million in equity funding from the Amazon Smbhav Venture Fund.
- The funds will be used to scale lending operations, expand checkout finance use cases, and offer more credit products.
- Axio, formerly known as Capital Float, offers loans via its own books and co-lending partnerships, along with pay-later options and personal finance management.
- The company has reached $1 billion in annualised disbursals, with 60% of customers from non-metros and a low NPA ratio of 2-3%.
- Prior to this round, Axio had raised $137 million in equity and $671 million in debt, with Light Rock as the largest external shareholder. 

 Source: [Moneycontrol](https://www.moneycontrol.com/technology/lightrock-backed-fintech-firm-axio-raises-20-million-from-amazon-smbhav-venture-fund-article-12805190.html)

Avaana Capital Closes Climate Fund at $135M

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