Ankur Capital To Secure Rs 1,200 Cr For Fund III, Eyes Deep Tech Investments

Ankur Capital has raised commitments from British International Investment (BII) and the John D. & Catherine T. MacArthur Foundation for its third fund, Ankur Capital Fund III. The early-stage venture capital firm aims to raise Rs 1,200 crore (approximately $150 million) to invest in advanced technologies focused on digital innovation and decarbonisation.

According to Ankur Capital, the new partners join US International Development Finance Corporation (DFC) and the Self-Reliant India Fund, who had earlier committed to the fund.

 With more than $200 million in assets under management (AUM) across its previous funds, Ankur Capital plans to continue investing in pre-Series A startups with initial cheque sizes ranging from $1 to $2 million, and providing follow-up support of up to $10 million.

Since its inception, Ankur Capital has backed deep tech innovations addressing key challenges in market supply chains, agriculture productivity, climate change, and healthcare. Its portfolio includes companies like Niramai, Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, and BigHaat.

“At Ankur, we continue to be attracted to entrepreneurs creating the next generation of technologies across sectors and are particularly bullish about the deep science technologies, agtech, and climate opportunities,” said Ritu Verma, Co-founder and Managing Partner of Ankur Capital.

Abhinav Sinha, Managing Director and Head of Technology and Telecoms at BII, added, “Technology is key in addressing many developmental challenges, including poverty and climate change. Through our partnership with Ankur and the innovative businesses it supports, we can reach more smallholder farmers and vulnerable communities in India for better productivity and inclusion. This is also in line with the Government of India’s commitment to support sustainable development and prioritise support to agri-startups.”