Nexus Venture Partners Closes $450 Million Fund

Venture capital firm Nexus Venture Partners, whose portfolio companies include Snapdeal, OLX, ShopClues, Delhivery, and Roadrunnr, announced Tuesday the closing of its $450 million (roughly Rs. 3,008 crores) fund, which brings the total capital under management to over $1 billion (roughly Rs. 6,685 crores).

Nexus will invest in technology and data-led businesses that are disrupting consumer retail, financial services, healthcare, and education markets, and in enterprise technologies that are enhancing productivity and lowering time to market, the company said.

"We are thankful to our investors that continue to back us and believe in our investment philosophy," Naren Gupta, Co-Founder and Managing Director of the firm said in a statement. "Most significantly, the Nexus team is fortunate to have exceptional entrepreneurs partner with us on their journey to build market leading companies."

Nexus Venture Partners has three earlier funds, of $100 million (roughly Rs. 668 crores) in 2007, $220 million (roughly Rs. 1,471 crores) in mid-2008, and $270 million (roughly Rs. 1,805 crores) at the end of 2012.

Nexus Venture Partners began operations in 2006 and has invested in over 60 technology, Internet, consumer, and business services. Some of the other tech and internet startups in its portfolio include Craftsvilla, OLX, Stayzilla, Netmagic, Suminter, DimDim, Unicommerce and WhatsOnIndia.

Some of the most active investors in India's startup ecosystem include Sequoia Capital, Tiger Global, Steadview Capital, SoftBank, Accel Partners, and Helion Venture Partners.

SoftBank had committed to spending $10 billion in India's startup ecosystem late 2014.