Early-stage venture capital firm Ankur Capital, an investor in more than 30 companies including Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab and BigHaat, has brought on board two of its existing limited partners for its third fund.
The VC firm, which is raising Rs 1,200 crore ($150 million) for Ankur Capital Fund III, has roped in British International Investment and the John D. and Catherine T. MacArthur Foundation for the investment vehicle.
The two LPs join the US International Development Finance Corporation (DFC) and Self-Reliant India (SRI) Fund. The SRI Fund is an Indian government initiative. It is anchored by NSIC Venture Capital Fund and managed by SBICAP Ventures Ltd, which had committed to the fund earlier.
Ankur Capital Fund III will invest in disruptive technologies with themes that tap into the digital transformation and decarbonization opportunities for India and beyond, the VC firm said in a press release. The fund will focus on pre-Series A investments with entry cheque sizes in the $1-2 million range and continue its support of up to $10 million in portfolio companies.
Ankur Capital says it primarily invests in deep technology innovations addressing problems such as improving market supply chain efficiency, agricultural productivity, climate, and health-linked innovations. The firms manages over $200 million in assets across its previous funds. Its portfolio largely includes companies in the agritech, deep science and climate sectors.
“...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, agritech and climate opportunities. We look forward to investing in the entrepreneurs building for the next decade with our sleeves rolled up,” said Ritu Verma, co-founder and managing partner at Ankur Capital.
