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February 25, 2014

Deal Alert: Ankur invests Rs. 1.5 cr in 3 early stage rural ventures

Mumbai-based impact investment fund, Ankur Capital, has invested in three early-stage ventures that focus on rural markets. The three firms are: CropIn, a cloud-based farm management systems company, home compost solutions provider Daily Dump and primary eye-care service provider ERC. The start-ups have issued convertible debt to the fund, which will invest about Rs. 50 lakh in each company for a 30% stake. Ankur Capital has a corpus of Rs. 40 crore.

Ankur Capital’s first fund will look to make 20 investments, with an average investment period of five years. For follow-on rounds of funding, the fund will invest between Rs. 2 crore and Rs. 4 crore in each investee company while aiming for gross return on investments of about 15%. 

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