Ankur Capital
Ankur Capital is an early-stage venture capital firm based in Mumbai that invests in deep science and disruptive technology startups in India, managing three AIF funds and backing founders across AI, energy, agritech, and advanced materials.
- Company typePrivate
- Founded2013
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Ankur Capital does
Ankur Capital is an early-stage venture capital firm headquartered in Mumbai, India, that invests in science-based and disruptive technology startups. Founded in 2013, the firm operates through Ankur Fincon Management Private Limited as its Investment Manager and currently manages three Category I Alternative Investment Funds (AIFs): Ankur Capital Trust (Fund I, 2013-14), Fund II (2019-20), and Fund III (2023-24). The firm invests at seed and pre-seed stages in four core deep-science verticals — AI & Compute, Energy, TechBio, and Space & Aerospace — alongside earlier-stage positions in agriculture, fintech, and digital infrastructure. Across Funds I and II, the firm has backed 30+ startups holding a cumulative 150+ patents, and reports having assessed approximately 2,500 ventures while building its deep-science thesis.
The firm's core products are its three venture capital funds, which deploy equity at check sizes typically ranging from $1.6 million (seed) to $6.8 million (pre-seed) in recent rounds. Beyond capital deployment, Ankur operates two ecosystem platforms — TechSprouts (engaging the deep-science ecosystem in life sciences, clean energy, advanced materials, and machine learning) and ThinkAg (food and agriculture transformation) — and publishes annual research reports including the 2025 India Deep Science Tech Report and the Semiconductor Startup Landscape Report 2025. The firm differentiates itself through a team of scientists, engineers, and former operators who apply a proprietary "Staircase Capital" underwriting framework specifically designed for physical-technology and atom-based breakthroughs.
Ankur Capital generates revenue through two primary streams: management fees charged on assets under management across its three funds, and carried interest earned on successful portfolio exits. Fund III has secured institutional Limited Partners including DFC (US International Development Finance Corporation), BII (British International Investment), SRI Fund, and BIRAC (Biotechnology Industry Research Assistance Council). The firm co-invests actively with a recurring syndicate of partners including pi Ventures, Micelio Fund, Omnivore, Accion, Equator, IvyCap Ventures, Capital-A, Antler, and ARAF, typically leading or co-leading rounds in its thesis areas.
Ankur Capital firmographics
Firmographics- Name
- Ankur Capital
- Legal name
- Ankur Fincon Management Private Limited
- Website
- https://ankurcapital.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Ankur Capital is an early-stage venture capital firm based in Mumbai that invests in deep science and disruptive technology startups in India, managing three AIF funds and backing founders across AI, energy, agritech, and advanced materials.
- Ownership category
- akta.pro rank
Ankur Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259), Investment Banking and Securities Intermediation (52315)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industries
- Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)
Keywords
Where Ankur Capital is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Ankur Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: Ankur Capital generates revenue through management fees charged on the funds under management (Ankur Capital Trust, Fund II, and Fund III). The firm operates as a Category I AIF - Venture Capital Fund with Ankur Fincon Management Private Limited as the Investment Manager.
- Carried Interest: The firm earns carried interest (performance fees) from successful exits and realizations on portfolio investments, typical of venture capital fund structures.
Go-to-market motion3 records
Distribution channels1 record
Marketing channels9 records
Ankur Capital product offering
Product offeringCore offering
Ankur Capital is an early-stage venture capital firm managing multiple Category I AIF funds (Fund I, II, and III) that deploy capital into Indian seed and Series A startups working on science-based and disruptive technologies including AI, semiconductors, energy, biotech, advanced materials, and agritech. Beyond capital, the firm provides portfolio companies with operational expertise, technical network access, and follow-on fundraising support, leveraging a team of scientists, engineers, and former operators. The firm also operates the TechSprouts and ThinkAg ecosystem platforms and publishes annual deep science research reports.
Product overview
Ankur Capital is an early-stage venture capital firm that has operated since 2013, backing India's boldest deep tech founders across sectors including energy hardware, materials science, fintech, agri-tech, and digital infrastructure. The firm manages three VC funds (Fund I, Fund II, and Fund III), each deploying capital into science-based and disruptive technology ventures. Beyond capital deployment, Ankur Capital operates two ecosystem platforms — TechSprouts (engaging with the deep science ecosystem in India) and ThinkAg (transforming India's food and agriculture landscape). The firm publishes annual research reports, including the 2025 India Deep Science Tech Report and the Semiconductor Startup Landscape Report 2025, offering sector analysis and investment thesis perspectives. Ankur Capital's investment strategy is organized around four deep science verticals: AI & Compute, Energy, TechBio, and Space & Aerospace.
Differentiator
Problem solved
Functional benefit
Brands
- TechSprouts: A platform to engage with the deep science ecosystem in India, exploring innovations at the edge of life sciences, clean energy, advanced materials, and machine learning.
- ThinkAg
Products and services
- Ankur Capital Fund I (Ankur Capital Trust) Ankur Capital's first venture capital fund, registered as a Category I AIF – Venture Capital Fund (Angel Fund) under Ankur Fincon Management Private Limited as Investment Manager. Fund I deployed capital into early-stage Indian startups in disruptive technology sectors.
- Ankur Capital Fund II Ankur Capital's second venture capital fund, a Category I AIF – Venture Capital Fund that deployed capital into early-stage Indian startups across deep science and digital sectors.
- Ankur Capital Fund III Ankur Capital's third venture capital fund, a Category I AIF – Venture Capital Fund that deploys capital into deep science and technology startups in India. Fund III is anchored by institutional Limited Partners including DFC (US International Development Finance Corporation), BII (British International Investment), SRI Fund, and BIRAC.
Quantifiable outcome
- Over 150 patents filed across portfolio companies
- +1 more outcomes
Companies that use Ankur Capital
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles2 records
Ankur Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Ankur Capital partnerships and signals
Strategic signalScale indicators5 records
Recent moves6 records
Expansion highlights5 records
Ankur Capital competitors and assessment
Company assessmentDirect peers
- pi Ventures: Mumbai-based early-stage VC focused on AI and deep tech startups in India. Direct peer with overlapping thesis (applied AI, deep science) and active co-investment relationship (co-led Pranos Fusion round alongside Ankur).
- Omnivore: India-focused early-stage VC backing agritech and foodtech startups. Direct peer given Ankur's ThinkAg platform and agri portfolio (Vegrow, Agrizy, IBISA), and a documented co-investment partner on Agrizy's Series A.
- Speciale Invest: Chennai-based early-stage VC exclusively focused on deep tech and enterprise SaaS in India. Closely comparable thesis in deep science investing, similar ticket sizes and stage focus.
- Ideaspring Capital: Early-stage deep tech VC in India backing IP-led technology startups across AI, IoT, and advanced materials. Directly comparable in stage, sector focus, and India-only geography.
- 3one4 Capital: Bengaluru-based early-stage VC investing across consumer tech, fintech, and deep tech in India. Comparable early-stage focus and India-only deployment, with overlapping portfolio in digital and science-led sectors.
- Micelio Fund: Mobility and deep tech focused early-stage VC in India. Direct co-investment relationship with Ankur on Turiyam.ai, with comparable deep tech / clean-tech thesis in Indian early-stage markets.
- Athera Ventures (formerly Inventus Capital): India-focused early-stage VC with deep tech and consumer technology theses. Comparable stage, geography, and exposure to science-led and tech-enabled Indian startups.
- Accion Venture Lab: Early-stage impact investor with focus on inclusive fintech and agritech in emerging markets. Direct co-investment peer alongside Ankur and Omnivore on Agrizy Series A, with comparable stage and thesis.
Broad incumbents
- Blume Ventures: One of India's largest early-stage VCs with broad sector coverage including deep tech. Larger and broader than Ankur but comparable on stage and India-only focus, and a potential competitor for science founders.
- Chiratae Ventures: India-focused tech VC with multiple funds across stages including deep tech and consumer. Broader incumbent with overlapping deep tech interest, comparable in scale of deployment in India.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Ankur Capital social profiles
Digital presenceAnkur Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ankur Capital leadership team
Management profileNumber of profiles
Profiles10 records
Ankur Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ankur Capital M&A and investment
M&A and investmentM&A
Investments72 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ankur Capital
What does Ankur Capital do?
Ankur Capital is an early-stage venture capital firm managing multiple Category I AIF funds (Fund I, II, and III) that deploy capital into Indian seed and Series A startups working on science-based and disruptive technologies including AI, semiconductors, energy, biotech, advanced materials, and agritech. Beyond capital, the firm provides portfolio companies with operational expertise, technical network access, and follow-on fundraising support, leveraging a team of scientists, engineers, and former operators. The firm also operates the TechSprouts and ThinkAg ecosystem platforms and publishes annual deep science research reports.
Is Ankur Capital a public or private company?
Ankur Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Ankur Capital founded?
Ankur Capital was founded in 2013. It employs 11 to 50 people.
Where is Ankur Capital based?
Ankur Capital is headquartered in Mumbai, India, in the Asia region.
How does Ankur Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Ankur Capital's main competitors?
Direct peers on record are pi Ventures, Omnivore, Speciale Invest, Ideaspring Capital, 3one4 Capital, Micelio Fund, Athera Ventures (formerly Inventus Capital) and Accion Venture Lab. Broad incumbents are Blume Ventures and Chiratae Ventures.
Does Ankur Capital have an API?
No public API is recorded for Ankur Capital.
What industry is Ankur Capital in?
Ankur Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSAEALAI, Institutional Capital Introduction (LP/Family Office/Endowment Matching). Its NAICS code is 52394 and its SIC code is 6282.