Ankur Capital’s third fund, which seeks to achieve a target amount of INR 1,200 Cr (about $150 Mn), has obtained commitments from two current limited partners (LPs) – British International Investment and the John D. and Catherine T. MacArthur Foundation.
With the third fund, the focus will remain on investments made before the Series A stage. The fund will require initial investments ranging from $1-2 million, with ongoing funding available up to $10 million.
Ankur Capital’s Fund III will focus on investing in innovative technologies that align with the themes of digital transformation and decarbonization, targeting possibilities in both India and the global market. The fund is anticipated to be finalized by the beginning of next year.
The US International Development Finance Corporation (DFC) and Self-Reliant India Fund, who had previously pledged to the fund, have been joined by two new LPs.
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Ankur Capital’s previous fund, Fund II, concluded in 2021. In March of that year, it declared the completion of an intermediate round of Fund II, securing INR 330 Cr in financing pledges from the John D. and Catherine T. MacArthur Foundation and other sources.
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