Home Breaking News Mumbai based Ankur Capital raises USD 45 Million

Mumbai based Ankur Capital raises USD 45 Million

Maharashtra, Mumbai based Ankur Capital has secured USD 45 million funds on 15th of March, 2021 in the intermediate funding round led by BIRAC (Biotechnology Industry Research Assistance Council) and NABARD (National Bank for Agriculture & Rural Development).

Investors: The acquisition of USD 45 million funds was held in the intermediate round led by BIRAC and NABARD along with the involvement of previous investors like Capital Fresh, CropIn and BigHaat.

What the funding is for: With fund II Ankur Capital aims for entry at the seed stack rounds and targets investments between USD 0.5 million and USD 5 million into each company. They intend to invest in 16-18 companies having already invested in 4 companies. According to sources, the company is also aiming to expand their reach all over the world. 

About the Venture Capital: Ankur Capital is a privately held organization which operates under the venture capital and private equity industry. The organization was established in 2011 and they also deal with various specialties like funding, venture capital, mentoring inclusive growth and financial inclusion. Ankur Capital is an early-stage capital fund which focuses on opportunities created by rising aspirations and digital access for the next billion Indians

What the CEO has to say: “India is in a unique position to build for the companies for the next billion users that are also 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. As with fund I, we are happy to accelerate this trend with fund II.” — Ritu Verma, Co-founder at Ankur Capital. 

What the investors have to say: “BIRAC is pleased to partner with Ankur Capital under its Find with Fund scheme to support biotech innovations. We look forward to venture funds like ACE venture funds, Ankur Capital and encourage private equity mobilization into the biotech innovation ecosystem. This will benefit the rapidly expanding pipeline of biotech start-ups which develop technology led innovation products to address unmet needs for India and the world.” — Dr. Manish Diwan, Head- Strategy Partnership and Entrepreneurship Development at BIRAC.  

“We are excited to support Ankur Capital as one of a select group of major investments that advance the goals of the global catalytic capital consortium initiative. A powerful example of catalytic capital Ankur’s focus on information technology has the potential to improve economic opportunity for low-income individuals across India.” — Debra Schwatz, Managing Director of Impact Investments at the MacArthur Foundation. 

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