Northern Arc has secured $65 million in debt commitments for its maiden Climate Fund.
The debt commitments include $50 million from the United States International Development Finance Corp (DFC) and $15 million from the official Development Bank of the Republic of Austria, OeEB.
The fund aims to address critical funding gaps of growth stage startups in the solar energy, e-mobility, sustainable agriculture, and circular economy spaces.
Northern Arc has assets under management worth Rs 15,121 crore through its balance sheets and active AIF funds.