India and US-focused Nexus Venture Partners, which invests $500,000 to $10 million in early growth stage companies, has made another close of $353.5 million for its fifth VC fund, according to its latest filing with the US Securities and Exchange Commission (US SEC). The fund secured commitments from 32 investors.
The filings added that Nexus Venture V Ltd needs $96.5 million more to achieve its total target of $450 million for the fund. The VC firm made an initial close of the fund in June 2018 at $313 million.
Nexus had closed its Fund IV with committed capital of more than $450 million in December 2015. Also, its earlier funds include Fund I ($100 million) that was announced in 2007, Fund II ($220 million) closed in mid-2008 and Fund III ($270 million) in end 2012.
The venture capital firm also makes follow-on bets in select companies.
In April 2019, it backed Indian startups like Bengaluru-based Rapido with $11.2 million, Mumbai-based WhiteHat Education Technology with $1.3 million (Rs 9 crore), and Gurugram-based Intello Labs with $2 million.
Recently, Endiya Partners, an early-stage investment fund, has completed its first close of its second fund at $40 million. The new fund claims to be the largest B2B focused seed fund.
This month, Vertex Ventures, an early-stage venture capital arm of Singapore-based investment company Temasek Holdings, made the first close of its Southeast Asia and India-focused Fund IV, at $230 million. Tokyo and Singapore-based GREE Ventures announced a first close of its $130 million third fund for Asia. LeapFrog Investments, an emerging markets-focused private equity firm, also closed its third impact fund at $700 million to invest in Asia and Africa.
In April, South East Asian investment fund Jungle Ventures closed $175 million as part of its first close for their third fund.