Nexus Venture Partners Closes Its Largest Fund Ever, $270M Fund III, to Take Indian Startups to the Global Market
India’s most successful VC fund also taps new managing director, Jishnu Bhattacharjee, to strengthen its Silicon Valley office presence.
Mumbai (PRWEB) September 06, 2012
Nexus Venture Partners, India´s most successful venture capital fund has announced the close of its third fund with committed capital of about $270 million. The fund investors include endowments, foundations and financial institutions across North America, India, Europe and Asia. Nexus plans to use the funds to continue helping Indian startups go global and vice-versa: help U.S. startups tap into emerging markets.
Nexus Venture Partners was launched in 2006 with the primary goal of providing capital to exceptional Indian entrepreneurs and sharing company-building expertise with them. Nexus has invested in over 40 companies since inception. Several of the companies have become market leaders and are seeing exceptional growth. Nexus investments have had the most number of portfolio liquidity events, including Cloud.com (acquired by Citrix), Gluster (acquired by Red Hat) and DimDim (acquired by Salesforce).
Fund III will allow Nexus Venture Partners to continue its work with passionate entrepreneurs who can build large market leaders serving Indian or global markets, in addition to supporting existing partner companies. The Nexus team will maintain its focus on early stage companies and will continue to invest in disruptive opportunities across the technology, Internet, media, consumer and business services sectors. In selected cases, Nexus will also make seed stage investments to work with exceptional entrepreneurs.
“We are very grateful to our investors for their continued commitment to the Nexus team and for endorsing our ‘entrepreneurs first’ investment philosophy. All major investors in prior funds participated in Nexus III,” said Naren Gupta, co-founder, Nexus Venture Partners. “India has the talent to build leading global companies. We want to play a role in creating the ecosystem where passionate entrepreneurs can realize their dreams.”
Nexus Venture Partners has two earlier funds: Fund I ($100 million) was announced in 2007, and Fund II ($220 million) was closed mid-2008.
Along with this funding announcement, Nexus also announced today the promotion of Jishnu Bhattacharjee to managing director. He will join the senior Nexus team of Anup Gupta, Naren Gupta, Sandeep Singhal and Suvir Sujan. Jishnu is based in Silicon Valley and will continue to help Indian technology companies expand to the U.S. and globally.
Naren Gupta, co-founder of Nexus Venture Partners, said, “Jishnu has been a huge asset to a variety of companies over the last four years. He has helped several entrepreneurs build high-performance teams and gain significant market traction. I am very proud to have the opportunity to work with him.”
Validation of Nexus´ approach comes from the entrepreneurs themselves. “I am not doing another startup without Jishnu and Nexus,” said Anand Babu Periasamy, co-founder of Gluster.
Jishnu Bhattacharjee joined Nexus in 2008 after experience with technology startups and has led various Nexus investments in technology, Internet, mobile and tech-enabled service companies. He is currently on the boards of Vdopia, Druva, GenWi and Unmetric. Previously, he was a board member at Gluster (acquired by Red Hat) and a board observer at Cloud.com (acquired by Citrix). Jishnu holds a BTech degree from Indian Institute of Technology, Kharagpur, an MS from Georgia Institute of Technology and an MBA from Stanford Graduate School of Business. He also holds more than a dozen U.S. patents.
To learn more about Nexus Venture Partners, visit http://www.nexusvp.com
About Nexus Venture Partners
Nexus Venture Partners (http://www.nexusvp.com) is India´s most successful venture capital fund, with offices in India and Silicon Valley. Nexus team consists of former entrepreneurs and corporate executives, who have founded and scaled large global companies. The team has invested in a variety of companies that led to numerous public offerings and M&A transactions.
Nexus now has over USD $600M under management with an active portfolio of over 40 companies across technology, Internet, media, consumer, and business services sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market-leading businesses.
Nexus investments include Cloud.com (Cloud provisioning platform acquired by Citrix), Gluster (Open source cloud storage, acquired by Red Hat), Pubmatic (Publisher Ad revenue optimization), DimDim (Open Source Web Conferencing acquired by Salesforce.com), Snapdeal.com (Ecommerce marketplace), MapMyindia (Digital Navigation), Netmagic (Managed Services and Cloud infrastructure provider, acquired by NTT), Komli (Online ad network), Prana (Animation services), Druva (computing end-point protection), Unmetric (Social media analytics for business applications) and Bigshoebazaar (Online wholesale cash & carry platform).
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/9/prweb9874017.htm