Wednesday, April 21, 2021
Techiexpert.com
No Result
View All Result
  • Login
  • Register
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging
Techiexpert.com
No Result
View All Result

Ankur Capital announces first close of its second fund at Rs 240CR

Srikanth by Srikanth
January 13, 2020
in Startup news
Reading Time: 3 mins read
A A
0
Ankur Capital announces first close of its second fund at Rs 240CR
10
SHARES
133
VIEWS
Share on FacebookShare on Twitter

Ankur Capital, the early-stage venture capital fund focused on technology disruptions for the next billion, has announced the first close of its second fund Ankur Capital Fund II (ACF II) at Rs 240 crore. The fund expects to reach its target close of Rs 350 crore later this year. ACF-II saw participation from CDC Group Plc, the UK’s first impact investor and Development Finance Institution and other highly reputed international and domestic institutional investors as well as participation from existing LPs, The Dutch Good Growth Fund and SIDBI which is investing out of its Fund of Funds Startup  program.

Founded in 2014 by Penn/INSEAD alum Ritu Verma and ex-COO of Zee e-learning Rema Subramanian, Ankur Capital’s first fund invested across 14 companies covering sectors across agritech, food, healthcare and vernacular technologies. Some of the companies include Cropin, Niramai, Healthsutra, ERC, and StringBio.

CDC has been responsibly investing in Indian funds for over 30 years. Alongside its capital, CDC partners with Funds and businesses that work to create significant development impact across multiple sectors. Working closely with Ankur Capital, CDC will play a key role in advancing the Fund’s approach to environmental and social practices, both at the fund and portfolio level. CDC will also help strengthen the network of portfolio advisers and build further capacity in portfolio companies.

Sara Taylor, Director and Head of Catalyst Funds, Funds and Capital Partnerships, said, “Supporting the first close of ACF-II goes to the heart of how we use our capital at CDC. The companies that Ankur’s Fund will support are at the forefront of addressing development impact challenges using new technologies in India. This Fund will address United Nations’ Sustainable Development Goals, 1,2,3 and 4 , demonstrating our commitment to investing to support the SDG’s.”

ADVERTISEMENT

Clemens Gerteiser, Head of Investment for the Dutch Good Growth Fund, said: “Ankur embodies DGGF’s role of spearheading new initiatives for the missing middle. The team has shown great tenacity and dedication in a challenging market and we have been fortunate to be able to support Ankur’s journey so far: Initially with seed capital and business development and now with a cornerstone investment into their new fund.”

Ritu Verma, Co-founder & Managing Partner, Ankur Capital, said, “At Ankur, our investing philosophy has always been to support entrepreneurs who are building technology led solutions for the mass markets. We are thankful to our backers to help us make a difference at the ground level”. Rema Subramanian, Co-founder & Managing Partner, Ankur Capital added, “Ankur is looking to go deeper with its investments and will support companies from INR 3cr to 35 crores.”

The second fund was launched in early 2019 and has also onboarded Krishnan Neelakantan, ex-head of CLSA India Research as a partner. The fund will continue its focus on frontier technologies that unlock markets for the next billion. It will continue to leverage its expertise and knowledge in the agritech, food, vernacular and health space but will also expand into sectors such as fintech and edtech. The fund expects to make 15-18 investments and will look to deploy in 6-8 companies in this coming year.

Tags: Ankur CapitalFunding NewsMumbai startups
Share4Tweet2Share1Pin2
Srikanth

Srikanth

Passionate Tech Blogger on Emerging Technologies, which brings revolutionary changes to the People life.., Interested to explore latest Gadgets, Saas Programs

Related Posts

iBus Networks backed by Morgan Stanley acquires Ubico Networks
Startup news

iBus Networks backed by Morgan Stanley acquires Ubico Networks

by Srikanth
April 20, 2021
AnKa SumMor raises a Pre-Series-A funding
Startup news

AnKa SumMor raises a Pre-Series-A funding

by Srikanth
April 16, 2021
SuperK raises 6 Cr in Seed Round funding
Startup news

SuperK raises 6 Cr in Seed Round funding

by Srikanth
April 15, 2021
Websites For Conducting a Background Check
Startup news

Essential background checks that every Australian startup should use

by Sony T
April 11, 2021
PumPumPum
Startup news

PumPumPum raises INR 5.5 Cr in Pre-Series A funding led by IPV

by Sony T
April 9, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

A Guide to Designing a Powerful Modern Logo
Marketing Trends

A Guide to Designing a Powerful Modern Logo

by Anastasia Stefanuk
April 20, 2021
Action Games to Improve Decision making Skills
Tech news

Growth of online prediction games due to technological advancement

by Sony T
April 20, 2021
Teach For India welcomes 403 Alumni to join a movement of leaders working towards education equity
Tech news

Teach For India welcomes 403 Alumni to join a movement of leaders working towards education equity

by Srikanth
April 20, 2021
Social media marketing vs Search engine marketing
Marketing Trends

Social Media Marketing vs Search Engine Marketing

by Sony T
April 20, 2021
Load More
Techiexpert.com

© 2020 All Rights Reserved

  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging

© 2020 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Newsletter ?

What is Expected ?

  • Newsletter
  • eBooks
  • Tech Reports
  • Infographic
  • Webinar
  • Event Tickets