Ankur Capital to launch $50m new fund next quarter, looks to cut bigger cheques
Mumbai-based impact investor Ankur Capital is gearing up to launch a new fund of up to $50 million in the next few months, which will provide the investment firm the bandwidth to cut bigger cheques.
“We are in the midst of doing a couple of deals from the old fund. Only after we announce those (deals) can we announce the official launch of the fund,” Ankur Capital co-founder Rema Subramanian told DEALSTREETASIA in an interview.
“We are targeting to raise around $40-50 million,” she added.
The venture capital firm had closed its first fund in 2016 with a corpus of Rs 50 crore from multiple Indian and overseas investors. From the first fund, the company has already invested in 11 companies and is looking to close a couple more deals soon.
“Close to 70 per cent of the fund has been utilised across 11 companies,” she said.
Photo courtesy of reynermedia.