The genus Vanakripa (hyphomycetes) is reviewed based on the examination of type specimens, and V. ellipsoidea sp. nov. is described on submerged wood from Hong Kong. Vanakripa is characterized by punctiform sporodochial colonies, micronematous conidiogenous cells and pigmented conidia with vermiform separating cells. Vanakripa is compared with similar genera, and a synopsis of its morphological characters is provided.