Rahul Gupta, a former executive at Axis Bank, and Siba Panda, a former founding member of Stride Ventures, have partnered to establish a new venture debt fund called ValuAble.

ValuAble's inaugural fund-raising effort seeks to secure approximately ₹850 crore, which is a little over $100 million, to invest in technology-driven and inclusive startups in India and across the globe. The fund will adhere to ESG (Environmental, Social, and Governance) principles and support startups in the pre-Series A and Series A funding stages.

In an interview with CNBC-TV18, Rahul Gupta, the founder and managing partner of ValuAble, stated that the typical investment size will range from $2.5 million to $4 million.

Gupta also expressed their ambition to make roughly 50 investments within a three-year timeframe. The company anticipates finalising the fund's closure in the coming months. He emphasised that startups must exhibit scalability, returns, and sustainability as non-negotiable criteria.

In addition, Madhusudhan Rapole, the CEO and Founder of Oorja Energy, discussed the company's goal to expedite the transition to net-zero buildings. Oorja offers cost-effective solar thermal cooling and heating solutions for industrial and commercial applications.

According to Rapole, the company aims to reduce to energy consumption for cooling and heating by 30-90%. The company expects to achieve revenue of ₹25 crore in FY24 and cross revenue of 1,000 crore over the next five years.

Watch the accompanying video for the entire conversation.