Ankur Capital, an early-stage venture capital firm, has announced new commitments to its third fund, Ankur Capital Fund III, from two prominent investors: British International Investment (BII) and the John D. and Catherine T. MacArthur Foundation. Both organizations have been existing Limited Partners with Ankur Capital, reaffirming their support by backing this latest venture.
These commitments join those of the U.S. International Development Finance Corporation (DFC) and the Self-Reliant India Fund, which had previously pledged their support. The fund is targeting a corpus of Rs 1,200 crore (approximately $150 million) and will continue to focus on investments in technologies driving digital transformation and decarbonization, not only within India but also on a global scale.
Ankur Capital currently manages over $200 million in assets under management (AUM) across its previous funds. Fund III will uphold the firm’s strategy of pre-Series A investments, with initial check sizes ranging from $1-2 million and the potential to scale up to $10 million per investment.
Since its inception, Ankur Capital has been dedicated to backing deep-tech innovations that tackle critical issues such as enhancing market supply chain efficiency, boosting agricultural productivity, and fostering climate and health-linked innovations. The firm’s investment portfolio includes companies like Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, BigHaat, Cropin, and Niramai, all of which exemplify the fund’s focus on leveraging technology to address pressing challenges in mass markets.
As Ankur Capital moves forward with Fund III, its continued focus on early-stage investments will likely contribute significantly to the growth and development of transformative technologies in India and beyond.
