Two of the current Limited Partners of Ankur Capital, an early-stage venture capital fund, have committed to the fund’s third fund.
Ankur Capital Fund III, the company’s third fund, has received commitments from British International Investment and the John D. and Catherine T. MacArthur Foundation, according to a press release from the fund.
The pair joins the Self-Reliant India Fund and the US International Development Finance Corporation (DFC), which had previously pledged to the fund. Ankur Capital Fund III intends to invest in technologies with a focus on leveraging the digital transformation and decarbonization prospects for India and other regions, with a target of Rs 1,200 crore, or roughly $150 million.
Ankur Capital claims that over $200 million AUM is managed by it across its prior funds. With Fund III, Ankur intends to maintain its emphasis on pre-series A investments, with entry checks ranging from $1 to $2 million, and to provide support up to $10 million.
Ankur Capital has supported deep technology innovations since its founding, addressing important issues like increasing the effectiveness of the market supply chain, boosting agricultural productivity, developing innovations related to climate change and health, and developing new goods and services for mass markets.
A few of the businesses in Ankur’s investment portfolio are Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, BigHaat, Cropin, and Niramai.
