Ankur Capital Set to Raise ₹1,200 Crore for Third Fund, Targets Deep Tech Investments

Ankur Capital has secured commitments from the 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 (about $150 million) to invest in advanced technologies with a focus on digital innovation and decarbonization. These new partners join the US International Development Finance Corporation (DFC) and the Self-Reliant India Fund, who had previously committed to the fund.

With over $200 million in assets under management from its earlier funds, Ankur Capital plans to continue investing in pre-Series A startups, offering initial investments between $1 million and $2 million, with the potential for follow-up support of up to $10 million. Since its founding, Ankur Capital has supported deep tech innovations addressing critical issues in market supply chains, agricultural productivity, climate change, and healthcare. Its portfolio includes companies such as Niramai, Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, and BigHaat.

Ritu Verma, Co-founder and Managing Partner of Ankur Capital, expressed the firm’s enthusiasm for entrepreneurs developing next-generation technologies, particularly in deep science, agtech, and climate solutions. Abhinav Sinha, Managing Director and Head of Technology and Telecoms at BII, emphasized the role of technology in tackling developmental challenges like poverty and climate change. He noted that the partnership with Ankur and the innovative businesses it supports aligns with the Indian government's commitment to sustainable development and supporting agri-startups.