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Thursday, March 23, 2023

Nexus Venture Partners to invest in Indian, American startups through $700M fund

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Nexus Venture Partners will invest in businesses in India and the United States, as well as in industries such as artificial intelligence (AI), SaaS (software-as-a-service), finance, and commerce.

Nexus Venture Partners, which has supported unicorns such as Unacademy, Postman, and Delhivery, has completed $700 million in a new fund dubbed Nexus Ventures VII, becoming the latest VC firm to raise a huge corpus in the face of macroeconomic headwinds.

Nexus Venture Partners will invest in companies in India and the United States, as well as in industries such as artificial intelligence (AI), SaaS (software-as-a-service), finance, and commerce, according to the business.

Nexus Venture Partners, founded in 2006 by former entrepreneurs SuvirSujan, SandeepSinghal, and Naren Gupta, is one of India’s first native venture capital companies to invest in both US and Indian enterprises. The latest fund would bring the company’s total assets under control to $2 billion.

Nexus Venture Partners has sponsored around 200 firms in India and the United States to date, including more than 100 in India alone. The VC’s portfolio includes six publicly traded startups, including Zomato, Delhivery, and MapmyIndia.

Nexus Venture Partners’ portfolio also includes eight unicorns. Thus far, it has mostly participated in startup Seed and Series A fundraising rounds, as well as supported corporate apps and consumer internet enterprises.

Nexus Venture Partners’ new fund comes at a time when several VC firms have launched substantial India-focused funds, despite the fact that financing to the country’s startup ecosystem, which is presently the world’s third-largest, has recently declined dramatically.

Earlier this week, it was announced that PE/VC (private equity and venture capital) investments fell 77 percent year on year in February, following a 5-year low in January.

The $700 million obtained by Nexus Venture Partners is also the second-largest fund formed by an Indian venture capital company after Sequoia Capital India raised $2.85 billion to invest in Indian and Southeast Asian firms in mid-2022.

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