Venture Capital fund, Nexus Venture Partners, has raised about three-fourths of the targeted $450 million or Rs 3,005 crore for its new fifth fund.
Nexus, which has invested in Snapdeal, Delhivery and ShopClues, has raised $313 million or Rs 2,090 crore from 29 investors for its new fund so far, going by the filing. The fund’s website says that it has, so far, invested in over 75 startups focusing on consumer retail, business services, healthcare, education as well as enterprise technology. The new fund is also expected to invest in similar businesses.
India and US-focused Nexus Venture had announced the closing of its Fund IV with committed capital of more than $450 million in December 2015.
The early-stage investor became the first Indian venture capital firm to cross $1 billion in assets under management, three years ago. Founded by Naren Gupta, Suvir Sujan and Sandeep Singhal in 2006, it raised $100 million, followed by $220 million in the second fund in 2008, and $270 million in its third fund in 2012.
Nexus’ portfolio also includes startups based in the US including HyperTrack and Infoworks.io .