AWE Funds, a US and India-based investment platform, marked first close of its first fund in India. The gender-focused investor has secured USD 15 million and is aiming for a total fund of USD 45 million, including a USD 15 million green-shoe option.

The platform will invest in sectors such as climate and sustainability, food and agriculture, healthcare, education, and fintech, all while supporting gender equity and climate action as a differentiated strategy for maximising economic returns for its investors.

AWE announced the creation of its first India-focused fund in August, worth Rs 350 crore (about USD 40 million).

The SEBI-registered fund is backed by blue-chip international and India-based institutional investors and HNI investors, including Zia Mody (Founder, AZB & Partners), Soumya Rajan (Founder and CEO, Waterfield Advisors), Padma Chandrasekaran (ex-Bill & Melinda Gates Foundation), Divya Sampath (formerly Microsoft), Ajay Prabhu (former COO, Quest Global), Ramakishnan Ram.

The AWE Funds invests in pre-series A and Series A rounds in firms that are largely post-revenue. Furthermore, it has established a goal of assisting 30 million women worldwide in gaining agency by 2030.

It aims to do this through investing in firms that encourage women to participate as owners, consumers, producers, employees, employers, leaders, and market makers. In addition, through its portfolio firms, AWE Funds seeks measurable climate action (including mitigation and adaptation) and greenhouse gas reduction.

Freshokartz Agri (agritech), Blackburn Technologies and dba Remedico (healthtech), Agam International (fintech), and Velmeni.ai (healthtech) are among the firm's portfolio firms. According to the fund, the enterprises have helped over 250,000 women achieve agency, improved sustainability, and provided considerable financial returns to investors.