Ankur Capital, an early-stage venture investor specializing in agritech, climate, and deeptech startups, has secured fresh capital commitments for its third fund from existing supporters British International Investment (BII) and the MacArthur Foundation.
The new fund, targeting Rs 1,200 crore ($150 million), has already received investments from the US International Development Finance Corporation and the Self-Reliant India Fund, a government initiative under the Ministry of Micro, Small and Medium Enterprises.
BII and the MacArthur Foundation were also investors in Ankur Capital’s second fund and have returned for this third round. The firm continues to focus on pre-series A investments, aiming to support companies at this critical stage of growth. Ritu Verma, managing partner at Ankur Capital, stated that approximately Rs 400 crore has been raised so far, with plans to close the fund by early next year.
Ankur Capital, known for backing companies such as Captain Fresh, String Bio, Cropin, Vegrow, and BigHaat, plans to maintain its strategy of investing $1-2 million in pre-series A rounds through this third fund.
The firm’s first fund, launched in 2017-2018, had a corpus of Rs 50 crore, while the second fund, launched in 2020, raised Rs 380 crore and is now nearly fully deployed. Ankur Capital aims to expand its portfolio by exploring new themes related to digital transformation and decarbonization opportunities, both in India and globally.
Currently managing around $200 million in assets, Ankur Capital has invested in nearly 30 companies through its first two funds. The firm is committed to enhancing market supply chain efficiency, agricultural productivity, and fostering climate and health-related innovations.
Through its partnership with Ankur Capital, BII aims to support more smallholder farmers and vulnerable communities in India, promoting better productivity and inclusion.
