SUMMARY
- Ankur Capital received commitments from British International Investment (BII) and John D. and Catherine T. MacArthur.
- Ankur Capital’s portfolio includes investments from companies like Captain Fresh, String Bio, and Cropin.
- These commitments come with a fund target to raise Rs 1,200 crore (approximately $150 million).
Ankur Capital, in its early stage of the venture, has reported successfully received commitments from British International Investment (BII) and the John D. and Catherine T. MacArthur Foundation. These commitments come with a fund target to raise Rs 1,200 crore (approximately $150 million), while focusing on investing in potential technologies that focus on digital transformation and decarbonization in India.
The U.S. International Development Finance Corporation (DFC) and Self-Reliant India Fund had already committed to Ankur Capital Fund III intending to continue its strategy of making pre-series A investments with entry check sizes ranging from $1-2 million, and follow-on support up to $10 million.
Ankur Capital’s portfolio includes investments from companies like Captain Fresh, String Bio, and Cropin, already working on deep technology innovations in potent areas such as supply chain efficiency, agricultural productivity, and climate-linked solutions. Because of over $200 million in assets under management (AUM), Ankur Capital has well-positioned itself in Fund III.
“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.
The infusion of this additional capital into Ankur Capital Fund III is expected to elevate the growth of innovative startups, that have specific skills to tap technological advancements and contribute to India’s digital and Sustainable Development Goals. This will create new job opportunities and would stimulate the economy. By investing in these new technologies, the fund is expected to contribute to building a more resilient and competitive economy, positioning India as a leader in the global digital and green innovation landscape thereby achieving its targets.
