The Hindu Business Line : Nexus Capital’s $220-m fund to invest in early-stage cos

Mumbai, Aug. 19 Nexus India Capital, a venture capital firm based in the US and India, on Tuesday announced the closure of its second fund, Nexus India Capital II, L.P., a $ 220-million fund which will invest in early stage companies.

The fund will focus on early-stage companies in the domestic consumer and business services, technology, media and clean technology. It will invest up to $10 million in each company.

“Even in the period of global market meltdown, the fund was oversubscribed, which represents our track record in early stage investments,” said Mr Naren Gupta, Managing Director, Nexus India Capital.

The funds investors include leading endowments, foundations, sovereign wealth funds and other institutions from North America, Europe and Asia.

Nexus has invested in 13 early-stage companies from its previous $100-million fund.

Investments from previous funds have been in Netmagic Solutions, a carrier neutral managed services provider, Komli, an online advertising network, Suminter India Organics, a firm engaged in organic food and cotton processing, and CE Infosystems that provides navigable maps for India under the MapmyIndia brand.

Nexus team supports early-stage companies in recruiting senior talent, strategy formulation, making introductions for business development and guidance for future financing.

Nexus was started in 2006 and is promoted by three former CEO’s of reputed companies: Mr Naren Gupta, Mr Sandeep Singhal and Mr Suvir Sujan.

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