Ankur Capital, an early-stage company venture capital The Fund has received commitments for its third fund (Fund III) from two of its existing limited partners: British International Investment (BII) and the John D. and Catherine T. MacArthur Foundation.
They join the US-based International Development Finance Corporation (DFC) and Self-Reliant India (SRI) Fund, which had previously committed to the fund, the firm said.
Investing in disruptive technologies
The third fund, Ankur Capital Fund III, has set a target of raising Rs 1,200 crore or about $150 million.
The company aims to invest in disruptive technologies, focusing on digital transformation and decarbonization for both India and the rest of the world.
“At Ankur, we continue to be drawn to entrepreneurs building the next generation of technologies across all sectors and are particularly bullish on deep science technologies, agritech and climate opportunities. We look forward to investing in entrepreneurs who are building for the next decade with their sleeves rolled up,” said Ritu Verma, Co-Founder and Managing Partner, Ankur Capital.
The company will continue to emphasize pre-Series A investments, with initial investments ranging from $1 million to $2 million and potential subsequent support reaching up to $10 million.
Portfolio and impact
Since its inception, Ankur Capital has focused on deep technological innovations that address critical issues such as improving market supply chain efficiency, enhancing agricultural productivity, and developing climate and health-related solutions.
To date, the firm has invested in more than 30 companies through its previous funds.
B2B seafood platform Captain Fresh, biotech startup String Bio, B2B fruit marketplace Vegrow, battery chemistry developer Offgrid Energy Lab, agri-input marketplace BigHaat, SaaS-based agritech startup Cropin and AI-based breast cancer detection solution Niramai are some of the startups in its portfolio.
“Technology is critical to addressing many development challenges such as poverty and climate change. Through our partnership with Ankur and the innovative companies it supports, we can reach out to more smallholder farmers and vulnerable communities in India to achieve better productivity and inclusion. This is also in line with the Government of India’s commitment to support sustainable development and prioritise support for agri-business start-ups,” said Abhinav Sinha, Managing Director and Head of Technology and Telecom, BII.
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