Nexus closes third India fund at $270m

Naren Gupta, Nexus' co-founder, told media that the fundraising took a "couple of months." The first US Securities and Exchange Commission (SEC) filing for the vehicle was made in late November 2011 and sources previously told AVCJ that the process was completed as early as March.

The third fund will follow the investment strategy of its predecessors, focusing on early-stage Indian companies across the technology, internet, media, consumer and business services industries. Nexus raised $100 million for its maiden India-focused vehicle in 2007. The $220 million Nexus India Capital II reached a final close in 2008.

"We are very grateful to our investors for their continued commitment to the Nexus team and for endorsing our ‘entrepreneurs first' investment philosophy," Naren Gupta, co-founder of Nexus Venture Partners, said in a statement. "India has the talent to build leading global companies. We want to play a role in creating an India-based ecosystem where passionate entrepreneurs can realize their dreams."

Despite a tough fundraising environment, several India-focused private equity players with decent track records have successfully closed funds in recent months.

In March, Helion Ventrue Partners raised $255 million for its third fund, over $45 million larger its previous vehicle. In May, ChrysCapital closed its sixth fund at $510 million. ChrysCapital VI is a little more than half the size of firm's previous vehicle, which returned $300 million of capital to LPs in 2010, bringing its corpus down to $960 million.

In the same statement, Nexus also announced the promotion of Jishnu Bhattacharjee to managing director.

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• Topics
• South Asia
• Fundraising
• India
• Fundraising
• Nexus India Capital Advisors
• Helion Ventures
• ChrysCapital Management