Ankur Capital in process of raising second fund of $50 mn from investors

Early-stage venture capital fund, Ankur Capital, is in the process of raising its second fund of $50 million (around Rs 3.5 billion) from a clutch of investors, which is likely to be closed in the next three months. According to the VC firm, this will enable early stage investors to write bigger cheques towards individual investment in sectors such as agriculture, healthcare and education.

Founded by Rema Subramanian and Ritu Verma in 2014, Ankur Capital raised its first fund of Rs 500 million in 2016. The company exhausted over 70 per cent of its corpus raised in the first round and was in the process of raising the second fund.   

“We are in the process of raising $50 million and are receiving encouraging response from investors. Hopefully, this will be closed in three-four months,” said Rema Subramanian, co-founder of Ankur Capital. She declined to name the investors, but said it would be mix of both public sector entities such as SIDBI and private sector players.