SBI Ventures, an alternative asset manager backed by the State Bank of India, is preparing to launch a Rs 2,000 crore climate-focused fund in early 2026. This fund will specifically invest in early and growth-stage startups that are developing frontier climate technologies and AI-enabled innovations. The initiative is designed to unlock green growth opportunities and address the substantial financing gap in India's climate goals, which are estimated to require USD 170 billion annually. SBI Ventures' Managing Director, Prem Prabhakar, emphasized the need for a multi-layered climate financing model that incorporates various funding sources, including equity, concessional capital, and philanthropic investments. The fund aims to enhance India's role as a hub for global climate innovation, particularly in areas like cooling technologies and climate-smart agriculture.