Nexus Venture Partners, India’s leading venture capital fund, announced the close of its third fund with committed capital of about $270 million. The fund investors include endowments, foundations, and financial institutions across North America, Europe and Asia. The fund closed about six months back.
Nexus Venture Partners was launched in 2006 with the primary goal of providing capital to exceptional Indian entrepreneurs and sharing company-building expertise with them. Nexus has invested in over 40 companies since inception. Several of the companies have become market leaders and many are experiencing exceptional growth. Over the last two years, several Nexus partner companies have decided to merge with large entities through attractive acquisitions.
This funding will allow Nexus Venture Partners to continue to work with passionate entrepreneurs who plan to build large market leaders serving Indian or global markets as well as support existing partner companies. The Nexus team will maintain its focus on early stage companies and will continue to invest in disruptive opportunities across technology, Internet, media, consumer and business services sectors.
“We are very grateful to our investors for their continued commitment to the Nexus team and for endorsing our “entrepreneurs’ first” investment philosophy. All major investors in prior funds participated in Nexus III,” said Naren Gupta, Co-Founder, Nexus Venture Partners. “India has the talent to build leading global companies. We want to play a role in creating an India-based ecosystem where passionate entrepreneurs can realize their dreams.”
Nexus Venture Partners has two earlier funds— Fund I ($100mn) was announced in 2007 and Fund II ($220mn) closed mid 2008.
In a related release today, Nexus also announced the promotion of Jishnu Bhattacharjee to Managing Director.
About Nexus Venture Partners
Nexus Venture Partners (www.nexusvp.com) is India’s leading venture capital fund, with offices in India and Silicon Valley. Nexus team consists of entrepreneurs and corporate executives, who have founded and scaled large global companies. The team has invested in a variety of companies leading to numerous successful public offerings and M&A transactions.
It has over $600mn under management with an active portfolio of over 40 companies across technology, Internet, media, consumer, and business services sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market leading businesses.
Nexus partner companies include Cloud.com (Cloud provisioning platform acquired by Citrix), Gluster (Open source cloud storage, acquired by Red Hat), Pubmatic (Publisher Ad revenue optimization), DimDim (Open Source Web Conferencing acquired by Salesforce.com), Snapdeal.com (Ecommerce marketplace), MapMyindia (Digital Navigation), Netmagic (Managed Services and Cloud infrastructure provider, acquired by NTT), Komli (Online ad network), Prana (Animation services), Druva (computing End-point protection), Unmetric (Social media analytics for business applications) and Bigshoebazaar (Online wholesale cash & carry platform).