Nexus announces $450m final close on fourth India fund

Most of the capital for the latest vehicle came from investors in the GP's previous funds, according to a release. The firm will continue to focus on seed and early stage investment opportunities in companies with disruptive business models, particularly in the consumer, financial services, healthcare and education markets.

AVCJ reported earlier this year that Nexus had raised $434 million for its fourth fund, comprising $304 million in core equity and a $130 million vehicle for later-stage investments in existing portfolio companies. One LP confirmed that the fundraising process was largely completed several months ago, adding that the delayed announcement might have been caused by side letter arrnagements for certain investors.

Nexus' third fund closed in 2012 at $270 million and this was followed two years later by a top-up fund with a corpus of $110 million. The GP raised $100 million for its first fund in 2007 and $220 million for a successor vehicle the following year.

Nexus has been an active supporter of India's technological innovators; it was one of the first investors in online marketplace Snapdeal, which has since raised more than $1 billion, including a $627 million commitment from SoftBank. It has also backed several of India's technology-enhanced logistics services, including Delhivery and Roadrunner.

The firm plans to help Indian start-ups that seek entry into global markets. Companies that it has backed in this sector include global data protection solutions firm Druva, for which Nexus joined Sequoia in a $12 million Series B round in 2011, and Pub Matic, a marketing solutions firm that Nexus backed in a $7 million Series A round in 2008 and again in a $45 million mezzanine round in 2012.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• Venture
• Fundraising
• GPs
• Technology
• India
• Nexus India Capital Advisors
• Fundraising
• GPs
• Technology
• TMT