The Green Economy Fund (GEF) is a USD 75 million structured equity fund that invests in first-of-a-kind climate technologies. The Fund provides capital and comprehensive commercialization support to scale innovations that can transform industries and de-carbonize economic development. GEF will operate across India, funding startups that optimize business performance and curb industrial emissions.
The Problem
Rapid industrialization can lift developing economies out of poverty and stabilize global supply chains. However, relying on conventional manufacturing and infrastructure practices will lock in higher lifetime emissions and resource inefficiency. Cost-effective, low-carbon technologies and materials can optimize business performance, improve profitability, and decarbonize operations, but critical barriers slow adoption. In India, there is a significant capital gap for climate projects requiring USD 1-10 million to set up their first factories or implement market-responsive business models. These startups frequently face challenges in navigating complex commercialization cycles and technical procurement processes.
The Solution
GEF invests in economically viable, low-carbon technologies that can transform entire industries. Investments are aligned with startup financing needs, with emphasis on pioneering first-of-a-kind capital for factories and business models. The Fund combines private equity-level due diligence with venture flexibility while systematically reducing investment risk through strategic industry partnerships, structured debt pathways, and an integrated support ecosystem.
We look forward to working with the Lab’s global experts and partners to provide market-sounding for startups to scale, replicating the model in other geographies, and accelerating fundraising.
Starlene Sharma, Managing Partner and Co-founder, Green Artha.
Target Impact
GEF will show how low-carbon industrialization pathways for developing economies can help to reduce emissions so often associated with economic growth. This is achieved by scaling up cost-effective decarbonization technologies for industries. Over its 10-year lifecycle, the Fund projects a 15 metric ton (MT) emissions reduction based on applying Project Frame’s planned emissions framework to the unit-impact of previous representative investments. The model aims to introduce private capital earlier in the investment cycle, when it is most needed, providing protection to private investors while simultaneously increasing the efficiency of catalytic capital.
*Banner image: courtesy of Zerocircle.
