SBI Ventures, the alternative-asset manager backed by the State Bank of India, plans to launch a ₹2,000 crore climate-tech fund between January and March next year. The fund, its third climate-oriented vehicle, will focus on early and growth-stage climate startups. It is especially aimed at backing frontier climate technologies and AI-enabled green innovation.
According to SBI Ventures’ CEO Prem Prabhakar, this effort will unlock green growth opportunities and build a strong pipeline for climate financing. The firm is already preparing a roadshow for both domestic and global investors early next year.
Prabhakar also highlighted the financing gap facing India’s climate goals: the country requires an estimated US$170 billion annually, which is three times the current flow of funds. Key areas requiring more investment include water security, climate-smart agriculture, disaster-resilient infrastructure, and adaptation solutions.
To tackle this gap, he proposed a layered climate finance model — mixing equity with concessional capital, philanthropy, and innovative structures like resilience bonds. He stressed that relying solely on equity will not be enough to scale climate solutions in India.
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