Nexus Venture Partners closes $700M fund to invest in India, US
Nexus Ventures VII fund is the firm's seventh fund and will focus on investing in the fintech, SaaS, commerce and AI sectors.
Nexus Venture Partners has closed its seventh fund of a $700-million corpus, which will focus on investing in India and US-based startups.
Nexus Venture VII will back startups in the fintech, consumer, SaaS, and artificial intelligence sectors, the company said in a blog post. The new fund will take its assets under management to $2 billion.
Nexus Venture Partners, founded in 2006 by Suvir Sujan, Sandeep Singhal and Naren Gupta, is one of the earliest homegrown venture capital firms to back entrepreneurs in India and the US. The fund is the second biggest capital fund raised in a year, only after Sequoia's $2.85-billion fund mid last year.
Till date, the company has invested in close to 200 companies across geographies; more than half of them are based in India. Prominent startups in its portfolio include , , , , and .
"Our 'one fund one team' approach, with entrepreneurial and operating experience across Menlo Park, Mumbai, and Bengaluru uniquely positions us to assist entrepreneurs in building pathbreaking product-first companies in two of the most important technology startup ecosystems in the world—USA and India," said Nexus Venture Partners, in the blog post.
Edited by Akanksha Sarma
