Nexus India Capital has closed a $100M Venture Capital Fund to invest in opportunities across sectors in India. Nexus plans to invest in both technology start-ups as well as companies with business models not driven by technology. The funds investors include top tier institutions and strategic family offices from North America, Europe and Asia.
The fund and its portfolio companies will be advised by successful entrepreneurs and investors in the Technology, Media, Outsourced Services, Retail and Consumer sectors. The founders of the fund and its advisory companies include industry veterans and successful venture investors, Naren Gupta, Sandeep Singhal, and Suvir Sujan. Bill Davidow, Senior Executive, Intel and Co-founder of a highly successful venture fund is a special advisor to Nexus.
Naren Gupta founded embedded systems software company Integrated Systems Inc. in 1980 and was the President/CEO of the company through the IPO process for 15 years. Integrated Systems later merged with WindRiver Systems, where he serves as Vice Chairman. Naren also serves on the boards of some of the world’s most innovative technology companies such as RedHat and TIBCO. Over the last decade, Naren Gupta has invested in several successful technology ventures that include Speedera Networks, E-Tek Dynamics, Numerical Technologies and RightNow.
Sandeep Singhal co-founded the leading Indian Health Care outsourced services company, Medusind Solutions and is a well-recognized leader in Indian venture capital. Prior to Medusind, Sandeep Singhal founded eVentures India, a Venture Capital Fund that invested in Indian industry leaders including Makemytrip.com, Contest2win.com, Customer Asset (now part of FirstSource), Netmagic, and Mentorix.
Suvir Sujan co-founded Baazee.com, India’s leading e-commerce company that merged with eBay to form eBay India and has also been an active advisor and angel investor to consumer internet, wireless and retail ventures.
“Innovation in India is going to come from many different sectors and Nexus plans to make investments in innovative early and expansion stage companies led by passionate founders and executives,” said Naren Gupta. “Our fund size will enable us to work closely with every company where we make an investment, which is what we intend to do”.
“After the first wave of investing in companies based on cost arbitrage, India is finally ready for venture capital in companies driven by innovation. Some of the best employees at companies in India such as Google, Microsoft and Intel are thinking about starting their own companies,” said Sandeep Singhal. “Moreover professionals in large Indian corporations and in companies around the world are stepping into Indian entrepreneurial ventures targeting the burgeoning domestic economy. They need risk capital; the timing to back them is now.”
“Smart entrepreneurs realize that they need more than just money,” said Suvir Sujan. “We are successful entrepreneurs who have founded, built and exited companies successfully in the technology, services and consumer arenas. Nexus India Capital truly understands the unique challenges faced by entrepreneurs and hopes to play an active role in helping companies succeed. Our entire team of advisors in India and Silicon Valley is accessible to all the entrepreneurs we back for support on strategy, operations, organizational building, sales, etc”.
Bill Davidow said, “I am very excited to be working with talented local investors who have had in-depth business and venture experience. They are in a position to provide significant support to early stage companies.”