Ankur Capital, an Indian venture capital firm that started in 2014, announced the first close of its Fund II at 3.3 billion rupees (~$45.4 million).
Primarily investing in India-based startups, Ankur Capital`s Fund II shall focus on agritech, healthtech, fintech, edtech, deep-tech, and language technology companies.
The VC firm plans to use its Fund II in seed-round investments with an average of $5 million per company and ticket size of $500,000.
Ankur Capital has recently received funding from MacArthur Foundation, National Bank for Agriculture & Rural Development, and Biotechnology Research Assistance Council.
Presently, the company already started investing in 4 out of the 16 to 18 startups that they`re planning to fund.
The portfolio companies of Ankur Capital include Niramai, String Bio, CropIn, and Captain Fresh.
“India is in a unique position to build companies for the next billion users that would also be globally relevant. We are witnessing a distinct set of companies that are using India’s large and diverse markets to test products before launching abroad,” says Ritu Verma, co-founder of Ankur Capital.
The date for the final close of the fund and its target amount is still yet to be disclosed by the company.
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