August 20, 2024: Ankur Capital, an early-stage venture capital revealed today that it has secured additional investment backing from two prominent existing limited partners for its upcoming third fund.
The new fund, aiming to raise Rs 1,200 crore (approximately $150 million), is set to focus on emerging technologies. Ankur Capital Fund III will target opportunities in digital transformation and decarbonization, seeking to drive innovation across India and internationally, as highlighted in the firm’s latest statement.
Ritu Verma, Co-founder and Managing Partner, Ankur Capital said “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.”
With Fund III, Ankur will focus on pre-Series A investments, with entry check sizes of $1 million- $2 million, and its backing up to $10 million.
Ankur Capital Fund III to invest in Deep Science, Agtech and Climate Opportunities
Ankur Capital has been backing deep technology innovations since it was estalished to address critical problems such as augmenting market supply chain efficiency, agricultural productivity, climate and health-linked innovations, and new products and services for mass markets. Its previous funds have invested in over 30 portfolio companies.
“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,” said Abhinav Sinha, Managing Director and Head of Technology and Telecoms at BII.
“This is also in line with the Government of India’s commitment to support sustainable development and prioritise support to agri-startups,” Sinha added.
The British International Investment and the John D and Catherine T MacArthur Foundation have both pledged further investments into Ankur Capital Fund III.
