Nexus Venture Partners Raises $700 Million Fund to Invest in AI, Fintech and Consumer Startups

Nexus Venture Partners, a venture capital firm that invests in startups in India and the United States, has announced the closure of its seventh fund, which amounts to $700 million. The firm will use the fund to back startups in fintech, consumer, SaaS, and artificial intelligence sectors. With the addition of the new fund, Nexus Venture Partners’ total assets now amount to $2 billion. This VC firm was founded in 2006 by Suvir Sujan, Sandeep Singhal and Naren Gupta, making it one of the earliest venture capital firms in India and in the US. The firm has invested in around 200 companies, with more than half of them based in India. Notable startups in the firm’s portfolio include Zomato, Delhivery, Unacademy, Zepto, and Rapido Bike Taxi.

Nexus Venture Partners has announced on their blog that they will be helping entrepreneurs in creating product-focused businesses in the two major tech startup hubs – United States and India. They are committed to assisting innovators in making a great impact with their projects. The company’s unique plan of coalescing the adeptness from Menlo Park, Mumbai, and Bengaluru into a single fund and team offers startups in those areas a clear edge compared to other competitors in the market. This approach utilizes both operational and entrepreneurial experience that is immensely beneficial for these businesses.

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This new fund is the second largest capital fund to be raised this year, falling just behind Sequoia’s massive $2.85 billion in mid-2020. Nexus Venture Partners’ new fund is a significant milestone for the firm, and it reinforces the growing trend of increased investments in Indian startups. The investment firm’s focus on the fintech, consumer, SaaS, and artificial intelligence sectors aligns with the growing demand and potential in these areas.

Overall, the new fund’s focus on investing in startups in India and the US, particularly in fintech, consumer, SaaS, and artificial intelligence, is a significant development in the startup ecosystem. It is a positive sign for entrepreneurs in these sectors, as it opens up new avenues for investment and support, which could lead to the development of innovative products and services.