Infuse Capital, an India-based clean tech and sustainable energy-focused fund backed by BP’s corporate venturing unit, is reportedly looking to raise $25m.
The fund has already raised about $9m from BP Ventures and the Indian government’s Ministry of New and Renewable Energy and Technology Development Board, news provider VC Circle said on Monday.
Development agency International Finance Corporation is also looking to invest about $5m, VC Circle added.
Infuse would target 15 to 20 companies, with amounts ranging from $200,000 to $1.5m, VC Circle said.