Nexus Venture Partners has closed 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 has two earlier funds— Fund I ($100mn) was announced in 2007 and Fund II ($220mn) closed mid 2008.
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.
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.
The fund has seen some of the major exits in India – notably, Netmagic (NTT Com acquired 74% stake in the company), Gluster (was acquired by RedHat for $136mn) and DimDim (acquired by Salesforce).
The venture fund has recently launched its Bangalore operations and also announced promotion of Jishnu Bhattacharjee to Managing Director role.