The announcement is in line with Avaana’s commitment to spearheading the Impact 3.0 movement in India
Avaana Capital, an early-stage fund focused on investing in and scaling up innovation-led sustainable start-ups, with the aim of catalyzing impact and delivering commercial returns, announced the hiring of Shruti Srivastava as Principal and Rahul Bhapkar as Chief Finance Officer (CFO). The announcement is in line with Avaana’s commitment to spearheading the Impact 3.0 movement in India, centered around the core principle that innovating for impact should not mean compromising on the value.
Avaana believes that in the coming decades, sustainable businesses which create value for all stakeholders, will be the drivers of economic growth, and technology and innovation will be the key catalysts for sustainability. Integrated business models, that operate at the intersection of sustainability and technology, are the need of the hour.
In her new role at Avaana, Shruti will be leading new investments for Avaana as well as manage existing portfolio companies. This will include extending support for growth acceleration, capital raise, and hiring. Additionally, she will also be engaged in leading community and ecosystem development initiatives for Avaana. Shruti brings experience across early-stage investing, private equity, and development finance making her the perfect addition to the ‘purpose + profit’ driven team at Avaana. Prior to joining Avaana, she worked with Omnivore, an agritech-focused venture fund where she looked at investments across agricultural technologies, innovative foods, and rural fintech and she has also worked with Acumen, a global impact venture fund.
Speaking on the appointment, Shruti Srivastava, Principal, Avaana Capital, said, “What attracted me to Avaana was the institution’s nuanced understanding of using capital to support innovations that can create outsized commercial outcomes while creating impact that’s hyper scalable and sustainable. I strongly believe that technology, fueled by the power of conscious commercial capital, can play a significant role in addressing broader development goals.”
As Chief Finance Officer, Rahul will be heading finance and operations at Avaana Capital. He brings with him experience across the NBFC space and has played a pivotal part in actualizing financial efficiency in his previous roles. At Avaana, he will be responsible for managing finance & operations, treasury, compliance, corporate governance, and strategy.
Rahul Bhapkar, Chief Finance Officer, Avaana Capital says, “I am thrilled to be a part of team Avaana on their mission to fund entrepreneurs striving to build responsible businesses with socio-economic impact. The opportunity to be part of a diverse team aiming to be a responsible ESG focused VC with tangible impact and returns is what excited me the most about Avaana. Under the stellar leadership of Avaana founding members, I look forward to playing a part in building the future of impact investing in India”
Avaana’s core mission is to invest in early-stage startups in India that are financially viable, are hyper-scalable, and have paradigm-shifting potential to address development challenges, standing out in an ever-evolving investment landscape. The fund promises a strong thesis-driven team with a track record across impact venture investing, private equity, corporate leadership.
“At Avaana, it’s our people who make the fund what it is today, right from our teams to our portfolio partners. Our team’s experience gives us an edge in understanding the confluence of technology, innovation, and impact. With Shruti and Rahul joining us, we are well-positioned to extend our support to many more innovative, inclusive, scalable businesses to deliver the double bottom line”, added Anjali Bansal, Founder of Avaana Capital.
The Avaana team and advisors bring a collective experience of more than 200 years across investing, institution building, governance, diversity and inclusion, and policy. Avaana’s early bets include success stories like Nykaa, Delhivery, Urban Company, and more.
Source: Business World