Nexus Venture considering $700 Mn fundraise for Indian and U.S. tech startups
By MYBRANDBOOK
India’s Nexus Venture Partners is in talks to raise a $700 million fund to invest in homegrown and U.S.-based technology firms, making it the second-biggest such pool to be garnered in the country in the past year.
The fundraising not only indicates that investors are comfortable with Indian tech firms, but it would also expand the pool of funds available to startups at a time when fundraising by Indian startups fell by a third last year to $24 billion.
It is reported that Nexus is betting that India - where internet and mobile phone usage is rising rapidly - will remain a long-term, attractive bet for investors of its new fund. Also, the company believes investing in U.S. software firms will help it cushion its bets and provide more stability than high-profile Indian startups which often burn billions of dollars in growth phase to achieve fast growth and attract users.
The fund raising has reportedly received a strong response from endowments and is expected to close within two months. Nexus was one of the first Indian venture capital firms to invest in U.S. and India-based software startups. The new fund will be its seventh so far and take the firm’s assets under management to more than $2 billion.
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