Ankur Capital

Overview

Ankur Capital is a venture capital firm based in Mumbai. Rema Subramanian and Ritu Verma co-founded the firm together. The pair started working on Ankur in 2013 and formally launched it in 2014. Verma holds a physics doctorate and had spent years at Unilever and Philips. Subramanian brought decades of experience across manufacturing, IT, and education. The firm backs founders building deep science, agritech, and healthcare businesses.

Investment Focus and Stage

Ankur Capital writes the first institutional check for most of its companies. It aims for double-digit ownership stakes from the outset. The firm follows on through later rounds to defend that position. It targets four to six times returns over eight to ten years. Its focus spans synthetic biology, advanced diagnostics, and agri-tech innovation.

Fund Size and Portfolio

Ankur Capital raised its first fund of Rs 50 crore in 2016. A second fund followed, closing near Rs 330 crore in 2021. As of early 2026, Verma manages roughly Rs 1,200 crore, or $150 million, across all three funds. Cropin delivered a 70 times return for early investors in a later funding round. Captain Fresh, Vegrow, String Bio, Niramai, and Rupifi also sit within the portfolio.

Leadership

Ritu Verma co-founded Ankur Capital and leads its science and agritech investments. She holds a PhD in physics from the University of Pennsylvania. Rema Subramanian co-founded the firm and leads its strategy and fundraising work. She built a career across Raymond, Ion Exchange, Datamatics, and Zee. Both women manage the firm together as co-founders and managing partners.